Micron Rated Hold at $949 Ahead of June 24 Earnings Test
Updated
Updated · 24/7 Wall St. · Jun 9
Micron Rated Hold at $949 Ahead of June 24 Earnings Test
3 articles · Updated · 24/7 Wall St. · Jun 9
Summary
$949.28 Micron shares are seen as a Hold, with analysts favoring new buying only on a pullback toward $760 before the June 24 earnings report.
AI-driven HBM demand has powered the rally—Micron's order book stretches into 2027—and Q2 FY26 revenue jumped 196.29% to $23.86 billion while non-GAAP EPS beat consensus by 39.74%.
That strength is colliding with valuation risk: the stock has surged 232.76% year to date, trades near a $1.07 trillion market cap, and sits above the Street's $739.48 consensus target.
Capex is the key fault line. Micron spent $6.39 billion in Q2 alone, while Samsung and SK Hynix are investing heavily enough to threaten HBM pricing and margins into 2027.
June 24 is the swing catalyst: steady pricing and disciplined supply could push shares back above $1,000, while softer guidance or higher capex could trigger a roughly 20% correction.