"Micron's forward P/E is just 9x, with Q3 FY2026 guidance calling for revenue of $33.5 billion and EPS of $19.15. If that quarterly run rate holds, annualized earnings power approaches $75 per share."
"Supply-constrained pricing has seen DRAM prices rise in the mid-sixties percentage range and NAND in the high-seventies last quarter, with expectations that supply will remain tight beyond calendar 2026."
"Micron can fulfill only 50% to two-thirds of key customer demand, indicating a significant opportunity for growth as demand continues to exceed supply."
Micron's shares have surged 64% year-to-date and 572% over the past year, driven by an AI memory supercycle. Analysts are optimistic, with a consensus target of $551.40. Micron's recent performance includes beating EPS estimates and significant revenue growth. To reach $1,000 per share, Micron's earnings power must increase, supported by supply-constrained pricing, strategic customer agreements, and strong demand. The company has also approved a 30% dividend increase, indicating confidence in future performance.
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