Micron’s upcoming earnings report on Wednesday, September 30, following the close of the U.S. market, will test whether the memory chipmaker can clear an exceptionally high bar. Projections point to a fiscal fourth-quarter EPS of about $31.52—up from $3.03 in the same period last year—on roughly $50.6 billion in revenue. TipRanks data places the average MU stock price target at $1,563.93. Ultimately, the broader stock outlook and the market’s reaction to the earnings will likely depend on management’s guidance for the following quarter.
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Micron Earnings, MU Stock Outlook And Price Target After Results
Micron Earnings Soon: What Wall Street Expects
With results right around the corner, expectations are elevated, largely driven by the company’s guidance issued back in June. At that time, management projected revenue of $50 billion (plus or minus $1 billion), adjusted EPS of $31 (plus or minus $1), and a gross margin near 86%. Wall Street anticipates figures slightly above the midpoint of that guidance. Furthermore, the company’s recent earnings history is solid, as third-quarter revenue reached $41.46 billion alongside an adjusted EPS of $25.11.
In June, CEO Sanjay Mehrotra noted that the record-breaking third-quarter results and improved fourth-quarter 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, marking a 16% gain over the previous month while sitting roughly 14% below its 52-week peak of $1,255.
This strong run leaves little room for disappointment. Susquehanna analyst Mehdi Hosseini has highlighted uncertainty regarding the exact timing of revenue recognition from new Nvidia products, warning that sales anticipated for this year might slip into the next. Meanwhile, Wells Fargo lowered its price target for MU from $1,525 to $1,400 on Wednesday, though it maintained an Overweight rating.
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Other financial institutions remain bullish and updated their stances ahead of the announcement. Citigroup raised its price target from $1,150 to $1,300 and kept a Buy rating, with analyst Atif Malik citing tight supply and stronger DRAM pricing. Rosenblatt’s Kevin Cassidy reiterated both a Buy rating and a $1,500 target.
BMO Capital analyst Harsh Kumar reaffirmed a Buy rating and a $1,300 target, stating that:
“memory remains in a supercycle as demand trends continue to exceed supply through CY27.”
Goldman Sachs analyst James Schneider adopts a more cautious stance with a Hold rating and an $1,100 target, though he still anticipates that Micron will post:
“another strong quarter.”
Micron Earnings Soon: What Could Move The Stock
Investors are watching several factors beyond the headline quarterly numbers. In June, CFO Mark Murphy stated that Micron’s balance sheet:
“has never been stronger.”
Additionally, the company has secured 16 strategic multi-year customer agreements that offer enhanced earnings visibility. In mid-September, Micron also unveiled a 512GB DDR5 server module, with volume production slated for the second half of 2027.
Many market participants are looking past the immediate quarter to focus on fiscal 2027 guidance. While projections that NAND and DRAM will remain undersupplied through 2027 bolster the longer-term outlook, any delay in Nvidia-related revenue or margins that fall short of expectations could trigger swift profit-taking. Because a strong quarter is already priced in, the market’s reaction will likely hinge on forward-looking guidance, making the upcoming trading sessions potentially volatile for shareholders.