Micron Technology (MU) : BMO Capital Kumar Upside To $1,300 Predicted
Investors are eagerly awaiting Micron Technology’s fiscal fourth-quarter earnings on September 30 to see whether the memory chip company continues to enjoy solid demand and pricing tailwinds.
Ahead of Q4 FY26 earnings, BMO Capital analyst reiterated a Buy rating on MU stock with a price target of $1,300. The analyst is bullish on Micron, as he believes that “memory remains in a supercycle as demand trends continue to exceed supply through FY27.”
Kumar ranks No. 9 among more than 12,500 analysts tracked on TipRanks. He has a 74% success rate, with an average return per rating of 46.9% over a one-year period.
Kumar raised his Q4 FY26 revenue estimate by $2 billion. He also increased his full-year FY27 revenue and EPS estimates to $268 billion and $168.62, respectively, from $249 billion and $151.91. Kumar doesn’t expect any new significant memory supply to arrive until the second half of 2027.
Meanwhile, Kumar expects HBM and DDR5 to drive Q4 FY26 results, with BMO’s checks indicating server DDR5 pricing offering the greater upside surprise. The analyst noted that both HBM3e and HBM4 likely saw a sequential rise in pricing, while client and consumer memory saw weaker demand.
For Q1 FY27, Kumar expects . He sees HBM3e and HBM4 prices rising modestly under annual pricing contracts. While server DDR5 pricing continues to offer the greater potential for upside surprises, Kumar expects demand to shift towards HBM4. Kumar highlighted that, as per his checks, HBM4 carries about a 20% to 25% price premium compared to HBM3e. As the product mix shifts toward HBM4, Kumar expects the average selling price (ASP) to move higher.
Meanwhile, Wall Street expects Micron to report , up from $3.03 in the prior-year quarter. Revenue is projected to surge about 351% to $51.07 billion.
Is Micron Stock a Good Buy?
With 20 Buys and one Hold, Wall Street has a Strong Buy consensus rating on Micron Technology stock. The average of $1,526.75 indicates 41.2% upside potential.
Modify on 2026-09-28 12:34
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Is Micron Stock a Good Buy?
With 20 Buys and one Hold, Wall Street has a Strong Buy consensus rating on Micron Technology stock. The average of $1,526.75 indicates 41.2% upside potential.
Micron Technology recently joined the elite club of trillion-dollar companies after its stock skyrocketed more than 900% in one year.
The company is benefiting from a tremendous memory pricing cycle, thanks to demand for artificial intelligence infrastructure.
Tight memory supply is driving ridiculous pricing growth, boosting revenue and profitability, and we expect supply constraints to keep prices rising into 2027. But the key question is how long this cycle lasts and how high it goes.
We expect a peak between 2027 and 2028 and a precipitous downcycle thereafter, in 2029.