Micron Heads Into Earnings, JPMorgan Sees 2 More Years Of HBM Shortage - Micron Technology (NASDAQ:MU)

Micron Technology received a Strong Buy rating from Seeking Alpha with a $2,463 price target, citing long-term supply agreements and AI-driven demand. Goldman Sachs gave a Neutral rating, noting a cooldown in AI infrastructure stock valuations. Analysts are divided on Micron's role in the AI economy.

US chip stocks fell sharply on September 28, with ARM, Qualcomm, and others dropping over 3%, due to concerns about AI development slowdowns and rising Treasury yields. Nvidia (NVDA) rose 3% after announcing a $150B share buyback increase. The broader market also declined, with the S&P 500 down 0.51%.

Baird reiterated its outperform rating on Micron (MU) and raised its price target to $1,520, citing demand for agentic AI and favorable supply dynamics in the memory market. The stock has surged 279% in 2026, and analysts expect significant earnings growth. Micron is scheduled to report Q4 results soon.

Chip stocks fell Monday despite Nvidia's 3% gain after a $150B share buyback announcement. The Philadelphia Semiconductor Index dropped 2.6%. SK Hynix fell 5.68%, AMD dropped 5%, Micron declined 4.5%, and Intel fell 4.5%. Broader market selloff and inflation concerns weighed on tech stocks.

Chip stocks declined on Monday due to rising bond yields and AI safety concerns, with Arm Holdings (ARM) down 9%, Micron (MU) 4%, SK Hynix (SKHY) 6%, Intel (INTC) 6%, and AMD (AMD) 5%. Nvidia (NVDA) rose 2% after announcing new AI tools and a $150B share buyback. The PHLX Semiconductor Index (^SOX) fell over 2%.

SK Hynix (SKHY) shares fell 6% after Bloomberg reported its Solidigm subsidiary may pursue a $100B IPO. Micron (MU) and Western Digital (WDC) also dropped 4%, impacting the Roundhill Memory ETF (DRAM). Solidigm's potential listing raises governance concerns, while Micron's earnings are upcoming.