Is Micron (MU) Stock a Buy After Falling 11% From Its June High?
TLDR
- Micron stock closed up 0.9% at $869, its first gain since last Wednesday
- Q3 fiscal 2026 revenue hit $41.46 billion, up 346% year-over-year; EPS of $25.11, up 1,215%
- Mizuho analyst Vijay Rakesh reiterated an Outperform rating with a $1,375 price target
- Memory chip market expected to stay tight through 2027, with new supply not arriving until 2028
- A more realistic bull case puts MU at $1,400 by 2030, implying a 13% annualized return
Micron Technology stock closed at $869 on Monday, up 0.9%, snapping a losing streak that stretches back to last Wednesday. The stock is still down 11% over the past month and remains well below its late June peak of over $1,200.
The dip has sparked debate on Wall Street about how high MU can realistically go. One scenario making the rounds puts the price at $2,000 by 2030, though not everyone is buying it.
Micron’s latest numbers were hard to argue with. Revenue in Q3 fiscal 2026, which ended May 28, came in at $41.46 billion, a 346% jump from the same period last year. EPS hit $25.11, up 1,215% year-over-year.
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