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Micron Technology (MU) and Western Digital (WDC) have seen significant stock price increases, with Micron up over 200% year-to-date and Western Digital not far behind. This surge is attributed to the rising demand for memory and data storage solutions driven by AI and cloud infrastructure growth.
In the past 60 days, Micron’s fiscal 2026 EPS estimates have increased by 23% from $13.13 to $16.22, while FY27 estimates have risen by 17% to $18.57. Western Digital’s FY26 EPS estimates rose by 13%, and FY27 estimates grew by 37%, projecting EPS at $9.84 for FY27.
Despite their substantial gains, both companies are trading at lower P/E ratios than the S&P 500’s forward earnings multiple of 25x, making them attractive options for potential investors.
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