bolt AI and tech · 2 min
Micron down 30% but revenue up 380%: why Wall Street still loves it
flash_on In 20 seconds
Micron's latest quarter hit $54.23 billion, up 379.3% year-over-year.
More than 75% of Micron's 2027 output is already sold to customers.
Of 49 analysts, 45 say Buy or Strong Buy. Only 1 says Strong Sell.
Average price target is $1,560.57 versus current stock price of $878.84.
Based on a report by 24/7 Wall St., Micron Technology stock fell 30% from its June peak to $878.84, yet the chip maker's latest quarter showed revenue of $54.23 billion, up nearly 380% year-over-year. The company makes memory chips that power AI data centers.
Wall Street remains convinced: 45 of 49 analysts rate the stock a buy or strong buy, targeting $1,560.57. The bull case rests on tight memory supply through 2028 and the fact that 75% of Micron's 2027 output is already sold to customers under long-term contracts.
format_quoteWe do not have line of sight to when supply and demand will return to balance.
24/7 Wall St.
help What is not known yet
- Exactly when memory prices might weaken or stabilize
- Whether competitors like CXMT will capture meaningful market share
- Whether Micron's capital spending plans will change
forum Frequently asked questions
Why did the stock crash if business is so strong?expand_more
Broad tech selloff over macro fears (oil prices, interest rates) and concern that memory pricing may be near a cyclical peak despite no weakness in the data.
What does 'more than 75% of 2027 output already committed' mean?expand_more
Customers have locked in orders for three-quarters of next year's production under contracts, protecting revenue even if prices fall.
When should I watch for the bull case to fail?expand_more
Watch for softer contract pricing, rising customer inventory levels, or if competitors announce aggressive capacity increases. Next earnings report is expected around December 15.
How volatile is this stock?expand_more
52-week range is $192.40 to $1,255.00, showing extreme swings. Year-to-date it's still up 208%, well above the S&P 500's 11.93%.
newspaper Read next
link Sources (1)
- 24/7 Wall St. — Micron Is Down 30% From Its High and Just Lost Its $1 Trillion Status - 24/7 Wall St.
How we work: only facts that appear in the cited sources; quotes checked word for word; no opinion and no predictions. Written with the help of artificial intelligence and reviewed by automatic rules.