24/7 Wall St. Sets Micron at $966.70, Rates Shares Hold After 228.54% YTD Rally
Updated
Updated · 24/7 Wall St. · Aug 21
24/7 Wall St. Sets Micron at $966.70, Rates Shares Hold After 228.54% YTD Rally
1 articles · Updated · 24/7 Wall St. · Aug 21
Summary
$966.70 is 24/7 Wall St.'s 12-month target for Micron, implying just 3.16% upside from $937.11 and supporting a hold rating with 90% confidence.
228.54% year-to-date gains have already absorbed much of Micron's AI-memory boom, even as the company says supply conditions could stay tight into 2028.
Q3 revenue jumped 345.72% year over year to $41.46 billion, non-GAAP EPS reached $25.11, and Micron guided for $50 billion in Q4 revenue and $31 in EPS.
$100 billion in minimum revenue under 16 take-or-pay customer agreements and $22 billion in deposits underpin the bull case, which sees shares reaching $1,334.34.
$27 billion in fiscal 2026 capex, customer concentration in HBM4 and the memory cycle's volatility frame the downside case, with the bear scenario at $707.49.
Can Micron's unprecedented $100 billion in lock-in contracts truly bulletproof the tech giant against the memory sector's notorious boom-and-bust cycles?
Micron is betting $27 billion on AI memory in 2026, but what happens to its stock if the AI infrastructure bubble suddenly bursts?
With a suspiciously low P/E ratio, is Micron's stock a hidden gem or a classic value trap waiting for a cyclical collapse?