24/7 Wall St. Rates Micron Hold With $964.63 Target as Shares Surge 255% YTD

1 articles · Updated · 24/7 Wall St. · Aug 18

$964.63 is 24/7 Wall St.'s price target for Micron, implying slight downside from its $1,011.75 close after a 254.71% year-to-date rally.
Q3 FY26 results fueled that run: revenue reached $41.46 billion, 17.6% above consensus, non-GAAP EPS hit $25.11, and GAAP gross margin widened to 84.6% from 37.7% a year earlier.
Micron also guided for record Q4 revenue of $50 billion and EPS of $31, supported by AI-memory demand, more than $1 billion in HBM4 revenue, and 16 customer agreements covering roughly $100 billion of minimum-priced sales.
The hold call reflects cycle risk despite bullish Street sentiment: average analyst targets sit at $1,501.98, but Micron is spending about $27 billion in FY26 and remains vulnerable to any AI or hyperscaler capex slowdown.
At roughly 6 times forward earnings, Micron trades well below Western Digital and Sandisk, leaving room for upside if tight memory supply lasts beyond 2027 but downside if the cycle turns.