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Leading memory chipmaker Micron Technology (MU) is all set to report its fiscal fourth-quarter earnings on Sept. 30, after the market closes. Wall Street is expecting another blockbuster quarterly showing from the Boise, ID-based company, with Citi analyst Atif Malik being particularly gung-ho.
Raising his price target to $1,300 from $1,150, and reiterating its “Buy” rating on the stock, Malik said in a note to clients, "We model F4Q26 sales/EPS of $51B/$31.45, above consensus of $50.8B/$31.43 and F1Q27 sales/EPS of $57B/$35.25, above consensus of $56.7B/$35.15. We raise near-term NAND/DRAM pricing assumptions on non-SCA contracted bits. We assume blended DRAM ASPs +20%/+13% Q/Q and blended NAND ASPs +34%/+15% in F4Q/F1QE, respectively. We expect Micron volume/bits to grow roughly in line with the industry in 2026. We model FY27 capex of $50B with shell spend in low $20s and remaining equipment."
