Micron Q4 EPS Seen at $31.16, 10x YoY, as DRAM Prices Surge
MU has more than doubled off its 52-week low of $154.65.
Summary
Wall Street expects Micron to earn $31.16 per share in fiscal Q4, a 10x jump from $3.03 a year ago, with revenue near $50.4 billion versus $11.32 billion. The company guided to $50 billion ±$1B revenue and $31.00 ±$1.00 EPS in June. DRAM contract prices rose 90-95% QoQ in Q1 2026 and 58-63% in Q2, but TrendForce sees moderation to 13-18% in Q3, signaling slowing growth. Micron has locked in 16 strategic customer agreements with ~$100B in remaining performance obligations, converting price spikes into contracted revenue. The stock trades at ~7.9x annualized earnings, with options implying an 11% move after the Sept. 30 report. This follows the record Q3 results and Anthropic supply deal from June, extending the AI-driven memory boom narrative.
At the time of this announcement, MU was trading at $980.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $154.65 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.