On September 30, 2026, U.S. memory chip company Micron Technology will present its results for the fourth fiscal quarter. Ahead of the date, optimism on Wall Street is noticeably growing. Driven by the ongoing boom in AI servers and highly specialized memory DRAM, research firms such as Citigroup have significantly raised their price targets. For retail investors, the question is how much further upside remains in the stock, which has risen sharply over the course of the year.
High expectations for revenue and profit
For the fourth quarter of fiscal 2026, Micron itself has forecast revenue of around 50.0 billion U.S. dollars (± 1.0 billion USD) and non-GAAP earnings per share of about 31.00 U.S. dollars. Investors are therefore looking at explosive growth compared with the prior-year period, driven primarily by rising selling prices for DRAM and NAND memory chips. The planned gross margin, at a targeted roughly 86 percent, is also at a historically exceptional level.
Citigroup raises price target to 1,300 U.S. dollars
Shortly before the figures are released, U.S. major bank Citigroup raised its price target for Micron from 1,150 to 1,300 U.S. dollars and reiterated its buy recommendation. Analyst Atif Malik justified the adjustment with better-than-expected selling prices for DRAM and NAND as well as the continued shortage in the global market. In addition to Citigroup, other Wall Street firms such as Rosenblatt and Wells Fargo also maintain optimistic ratings, as high-bandwidth memory (HBM) for AI accelerators remains a central bottleneck factor throughout the AI infrastructure.
