Micron posts Q4 earnings beat and raises FY27 outlook
Micron Technology reported fourth‑quarter FY2026 earnings of $33.42 per share on revenue of $54.23 billion, both above analyst expectations. The company forecast FY27 first‑quarter earnings of $38.15 per share and revenue of about $61.5 billion, indicating a continued strong demand environment. Management said supply‑demand will stay tight through 2028 and gross margins are expected near 86.25% in Q1 FY27. Analysts from Deutsche Bank, Morgan Stanley and others reiterated bullish price targets despite the stock trading flat after the release.
Why it matters
Deutsche Bank maintains a buy rating with a $1,550 price target, implying roughly 46% upside from the current price. Morgan Stanley and Bank of America also issued higher price targets, suggesting the earnings beat and guidance could support further upside for investors.
Key facts
- 1Q4 FY2026 adjusted EPS was $33.42 per share, beating the $31.61 consensus. cnbc.com
- 2Q4 FY2026 revenue was $54.23 billion, above the $51.07 billion consensus. cnbc.com
- 3Guidance for Q1 FY27 EPS is $38.15 per share. cnbc.com
- 4Guidance for Q1 FY27 revenue is about $61.5 billion. cnbc.com
- 5Guided gross margin for Q1 FY27 is approximately 86.25%. investing.com
- 6Deutsche Bank’s price target for Micron is $1,550, representing about 46% upside from the close. cnbc.com
Open questions
- The beat size has shrunk from earlier quarters, raising questions about future earnings surprises (material 3).
- Management did not provide an updated total addressable market for HBM, leaving demand outlook partially unclear (material 3).
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.