"Micron's fiscal Q1 2026 results were genuinely impressive. Revenue rose 57% year over year, and the company posted non-GAAP EPS of $4.78 against estimates of $3.94. CEO Sanjay Mehrotra described the quarter as delivering 'record revenue and significant margin expansion.'"
"The forward guidance was equally strong. Micron Technology set Q2 FY26 revenue guidance of $18.70 billion with non-GAAP EPS of $8.42, reflecting surging demand for high-bandwidth memory. HBM capacity is sold out through 2026, and the AI supercycle narrative remains firmly intact."
"Wall Street broadly agrees. 38 of 43 analysts rate MU stock as a Buy or Strong Buy, with a consensus price target of $533.73. If you're weighing where Micron stands in the valuation debate right now, this recent breakdown is worth a read."
Micron Technology and SanDisk stocks have both declined significantly, with Micron down 5% and SanDisk down 6%. This pullback follows a period of extraordinary growth in the memory sector, primarily driven by AI data center demand. Micron's fiscal Q1 2026 results showed a 57% revenue increase year over year, with strong forward guidance. Despite the recent decline, analysts remain optimistic about Micron's future, with a consensus price target indicating substantial upside potential. Insider selling at elevated prices is noted as part of executive compensation planning.
Read at 24/7 Wall St.
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