Micron Q3 Strength, Memory Shortage Extended Past 2027, Drives Analyst Target Hikes
MU has more than doubled off its 52-week low of $103.38.
Summary
Micron reported strong Q3 fiscal 2026 results, confirming the record performance disclosed in the June 24th SEC filings. Crucially, the company now forecasts the memory and storage supply shortfall to extend beyond 2027, a significant update to its prior outlook. This sustained demand and constrained supply environment is driving major banks to raise price targets, with most analysts maintaining a 'buy' rating. The extended shortage outlook signals continued pricing power and robust revenue growth for Micron, reinforcing its strong position in the AI-driven memory market.
At the time of this announcement, MU was trading at $1,133.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.3T. The 52-week trading range was $103.38 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.