Micron Technology Inc. (MU) experienced a substantial rise in stock price, increasing nearly 340% in the first half of 2026, but has faced a decline over the past two and a half months. The company is projected to maintain strong performance through 2027, driven by tight supply of DRAM, increased demand for high-bandwidth memory, and new Strategic Customer Agreements (SCAs).
Micron’s gross margin rose to 84.9% in Q3 2026, up from 39% a year prior. The company has signed 16 SCAs that account for 20% of its DRAM and one-third of its NAND volume, enhancing demand predictability and pricing. The expected revenue growth rate for Micron is 91.5% for the current year ending August 2027, with earnings growth projected to exceed 100%.
Currently trading at a 22% discount from its 52-week high, MU shows an appealing valuation with a forward P/E ratio of 6.18, compared to industry averages of 21.37. Analysts indicate potential price targets reflecting a 52.6% increase from the last closing price of $975.26, suggesting an upside of up to 105%.
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