Micron Earnings: Can MU Stock Beat High Expectations?

Micron earnings, soon due on Wednesday, September 30, right after the U.S. market close, will show whether the memory chipmaker can clear a very high bar. Micron earnings expectations point to about $31.52 in EPS for the fiscal fourth quarter, up from $3.03 a year ago, on revenue of around $50.6 billion. The average MU stock price target sits at $1,563.93, based on TipRanks data. The Micron stock outlook, and also the MU stock earnings reaction, will likely hinge on what management says about the next quarter.

Micron Earnings, MU Stock Outlook And Price Target After Results

Micron Earnings Soon: What Wall Street Expects

The bar is high, with Micron earnings soon due and the company’s own June guidance setting the tone. Back in June, management guided for revenue of $50 billion, plus or minus $1 billion, adjusted EPS of $31, plus or minus $1, and also a gross margin of roughly 86%. Wall Street’s Micron earnings expectations sit a little above the middle of that range. MU stock earnings history looks strong too, as third-quarter revenue hit $41.46 billion and adjusted EPS came in at $25.11.

Micron CEO Sanjay Mehrotra said in June that the record Q3 results and the stronger Q4 outlook:

“reflect the strategic value of memory in the AI era.”

Analysts Split On Nvidia Timing And Price Targets

MU stock closed at $1,082.28 on Friday, September 25, up 16% over the past month and about 14% below its 52-week high of $1,255.

That run leaves little room for a letdown, with Micron earnings soon due. Susquehanna analyst Mehdi Hosseini flagged uncertainty over when revenue from new Nvidia products will actually show up. Sales the market already counted for this year could slip into next year. Wells Fargo also cut its MU stock price target from $1,525 to $1,400 on Wednesday, but it kept an Overweight rating.

Other banks stayed bullish and refreshed their calls with Micron earnings soon due. Citigroup raised its MU stock price target from $1,150 to $1,300 and kept a Buy rating, as analyst Atif Malik pointed to stronger DRAM pricing and tight supply. Rosenblatt’s Kevin Cassidy reaffirmed a Buy rating and a $1,500 target.

BMO Capital analyst Harsh Kumar, who reiterated a Buy rating and a $1,300 target, said:

“memory remains in a supercycle as demand trends continue to exceed supply through CY27.”

Goldman Sachs analyst James Schneider is more careful, with a Hold rating and an $1,100 target, but he still expects Micron to report:

“another strong quarter.”

Micron Earnings Soon: What Could Move The Stock

There is more to watch with Micron earnings soon due than just the quarterly figures. CFO Mark Murphy said in June that Micron’s balance sheet:

“has never been stronger.”

Micron has also signed 16 strategic customer agreements, multi-year deals that give it better visibility and help the Micron stock outlook. In mid-September, it also showed off a 512GB DDR5 server module, and Micron plans volume production for the second half of 2027.

A lot of traders are also looking past the quarter itself, right at guidance for fiscal 2027. NAND and DRAM should stay in short supply through 2027, which supports the Micron stock outlook. But if the Nvidia revenue shift shows up, or if margins fall short of Micron earnings expectations, profit-taking could hit fast. At the time of writing, the market already expects a strong quarter, so the MU stock earnings reaction could come down to guidance. For anyone holding shares with Micron earnings soon due, the next few trading days could get bumpy.