BOISE, Idaho, August 30, 2026, 17:58 (EDT)
- Micron ended Friday at $932.86, slipping 0.27%, putting its market capitalization at $1.05 trillion.
- Guidance for fiscal fourth-quarter revenue at $50 billion suggests sequential growth of 20.6%.
- The September 30 report is required to justify an 86% gross margin forecast along with a 21.1-times trailing earnings ratio.
Micron Technology stock declined 0.27% on Friday, despite renewed online interest in a positive outlook following its earnings report. Shares finished at $932.86 and edged down a further 0.22% in after-hours trading NASDAQ: MU market data.
The criteria for investors are unusually straightforward. Micron needs to demonstrate that peak memory prices are able to keep gross margins at 86% without triggering a harmful increase in supply.
The company forecasted fiscal fourth-quarter revenue at $50 billion, give or take $1 billion. The midpoint marks a 20.6% increase from the previous quarter and is over five times higher than revenue from a year earlier.
| Metric | Fiscal Q3 2026 | Fiscal Q4 guide | Sequential change |
|---|---|---|---|
| Revenue | $41.46B | $50.0B midpoint | +20.6% |
| Gross margin | 84.6% | roughly 86% | +1.4 pts |
| GAAP EPS | $24.67 | $30.73 midpoint | +24.6% |
| Operating cash flow | $25.39B | not provided | — |
Revenue for the fiscal third quarter totaled $41.46 billion, increasing from $9.30 billion in the same period last year. Operating cash flow came in at $25.39 billion, and adjusted free cash flow stood at $18.3 billion Micron fiscal Q3 results.
Cloud memory and primary data-center sales reached $25.29 billion, accounting for 61% of revenue for the quarter. The operating margins for these units stood at 78% and 83%.
The buzz surrounding AI memory is driven by this combination. HBM4 is currently being delivered in large quantities to a leading client, and HBM4E is anticipated to enter production in 2027.
Accurate valuation remains essential. Micron is valued at 21.1 times its trailing earnings and at 6.3 times its annualized revenue for the fiscal third quarter. The stock is currently trading 25.7% beneath its 52-week peak.
Wall Street sentiment remains upbeat. Of 31 analysts monitored by Google Finance, 30 assign a Buy rating to the stock. The consensus price target stands at $1,556.55, suggesting a 66.9% potential gain, with individual targets spanning from $1,100 to $2,200.
Rivals are boosting capacity. Kioxia and SanDisk are set to pour over $31 billion into Japan by 2032, provided they obtain government backing Reuters.
Micron is set to announce its fiscal fourth-quarter earnings following the close of trading on September 30. Expectations of a significant upward movement hinge more on the stability of margins and upcoming supply outlook than on demand-related news Micron Investor Relations.
Risks: The memory market stays cyclical. Rapid growth from competitors, adjustments to customer inventories, potential labor issues in Taiwan or reduced AI capital investment could pressure prices and margins.
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