Micron's June 24 Q3 Report Tests AI Memory Demand With Price Targets at $1,500
MU•Micron Technology reports fiscal third-quarter results on June 24, following a roughly 280% year-to-date share gain driven by high-bandwidth memory for AI accelerators. Analysts at Deutsche Bank and TD Cowen raised price targets to $1,500, citing customers securing 50% to two-thirds of bit demand and no supply catch-up expected.
1. Fiscal Q3 Results Scheduled June 24
Micron Technology will report fiscal Q3 results on June 24, covering the quarter ending May 2026. The earnings release will provide the clearest view on revenue growth and margins after a 280% year-to-date share price surge driven by AI memory sales.
2. AI Memory Demand Outpaces Supply
High-bandwidth memory supporting AI accelerators has driven robust demand, with key customers securing only 50% to two-thirds of their bit requirements. No significant supply increases are expected near term, raising concerns about continued tightness into 2028.
3. Analysts Raise Price Targets
Deutsche Bank and TD Cowen both raised Micron's price targets to $1,500, citing structural AI memory shortages. The upward revisions reflect expectations that demand will outstrip supply through 2028, potentially supporting higher revenue and profit margins.
