EXCLUSIVE: Micron's AI Earnings Could Break the Old Memory Cycle, PurePlay ETFs CEO Says
PurePlay ETFs CEO Joseph DeYonker says Micron is still priced like a memory cycle and names HBM guidance as the key number for Sept. 30 earnings.
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Micron stock slides as Michael Burry increases short bets ahead of Sept. 30 earnings, while Wall Street analysts maintain positive long-term price targets.
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PurePlay ETFs CEO Joseph DeYonker says Micron is still priced like a memory cycle and names HBM guidance as the key number for Sept. 30 earnings.
Micron’s low P/E may look like a bargain, but MarketVector’s Josh Kaplan warns cyclical semiconductor earnings can make the metric misleading.
Micron Technology received a significant price target increase from Citi analyst Atif Malik, raising it from $1,150 to $1,300, citing strong DRAM pricing and tight memory supply driven by AI and data center buildout. The company is expected to report fiscal Q4 earnings on Sept. 30 with revenue projected to exceed $51 billion, representing over 300% year-over-year growth. With DRAM and NAND prices surging and the stock already up 270% this year, analysts anticipate continued strong performance, though future guidance for 2027 will be critical.
Micron Technology has tripled this year amid strong AI data center demand for memory chips. Analysts project 247% revenue growth and 787% EPS growth for fiscal 2026. The article argues Micron could double or even triple within two years due to persistent memory shortages through 2028-2031, surging demand for high-bandwidth memory (HBM) in AI accelerators, and the company's attractive 6.7x forward earnings valuation.
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