Micron Technology Inc. 3Q Preview

Goldman Sachs anticipates Micron Technology to report a strong quarter with upside to Street estimates, driven by sustained DRAM pricing strength and strategic customer agreements. The firm has raised its price target to $900, reflecting improved earnings visibility through 2027.

Key Takeaways

• 1.Expectations are elevated due to robust DRAM pricing and strategic customer agreement (SCA) optimism.
• 2.Market tightness in supply/demand is expected to persist through 2027, supporting pricing and margin expansion.
• 3.Goldman Sachs increased revenue and EPS estimates significantly for CY26/27 due to pricing trends.

Table of Contents

• Key stock takeaways
• Setup heading into the print
• Our view on key metrics and our estimates
• Estimate changes
• Items on the call that could move the stock
• Coming out of the print
• Price target methodology and risks