Micron Rated Hold at $967 Target After 669% Surge

Analyst

โดย 24/7 Wall St.·

Summary · why it matters

Micron Technology earns a hold rating with a $966.70 price target, implying just 3.16% upside after a 669.05% trailing-year surge. The stock trades at $937.11, and the 24/7 Wall St. model assigns a 90% confidence reading, calling Micron fairly valued after a historic run. Fiscal Q3 revenue hit $41.46 billion, up 345.72% year over year, with non-GAAP EPS of $25.11 beating estimates by 23.79%, while Q4 guidance calls for $50 billion in revenue and $31 in EPS. Sixteen take-or-pay Strategic Customer Agreements lock in $100 billion in minimum cumulative revenue with $22 billion in cash deposits, providing unprecedented cycle downside protection. Micron's forward P/E of 7 makes it dramatically cheaper than Western Digital at 26 and SanDisk at 28, though a bear scenario models a drop to $707.49, a 24.5% decline.