This article first appeared on GuruFocus.
Micron Technology (NASDAQ:MU) climbed more than 4% on Wednesday as analysts projected strong fiscal Q1 2026 earnings.
The company is scheduled to report results on Dec. 17. Citi’s Christopher Danely said he expects a significant beat and raise for the quarter, helped by rising prices for Dynamic Random Access Memory, a component used to handle short-term data tasks in computers and servers.
Wall Street expects revenue to rise to about $12.8 billion, up from $8.7 billion a year earlier. Earnings per share are projected to reach $3.90, which would be almost double year-ago levels.
Danely increased his price target to $300 from $275 after noting that Micron has already allocated its 2026 output of high-bandwidth memory, a faster chip type used in artificial intelligence systems. Analysts say these commitments may help strengthen its financial base.
Other firms, including Deutsche Bank, HSBC and Goldman Sachs, have also raised their targets in recent days. HSBC said concerns about competition and cloud-industry risks appear overstated.