Citi analyst Atif Malik raised Micron's price target to $1,300 from $1,150, citing stronger DRAM pricing and tight memory and storage supply amid AI and data-center expansion. He expects Micron to beat estimates in its Sept. 30 fiscal Q4 report.
Micron reported $41.45 billion in fiscal Q3 revenue, up 345% year over year, and net income of $28.24 billion, up 1,398%. In the quarter, DRAM prices rose more than 60% and NAND prices more than 80%.
Analysts surveyed by Yahoo Finance forecast fiscal Q4 revenue of $51.2 billion and earnings of $31.56 a share; Micron's guidance is $49 billion-$51 billion in revenue and $29.73-$31.73 a share. Investors will also assess its fiscal 2027 outlook, as DRAM and NAND are expected to remain in short supply through 2027.
