Micron’s Q3 Beats Drive Price-Target Hikes After $41.5B Revenue, $25.11 EPS
MU•Micron Technology reported fiscal Q3 revenue of $41.46 billion, surpassing the $35.84 billion estimate, and delivered EPS of $25.11 versus expectations of $20.78. The company issued guidance of $50 billion for the current quarter and saw Deutsche Bank, DA Davidson and Cantor Fitzgerald raise price targets, highlighting robust AI memory chip demand and long-term supply contracts.
1. Fiscal Q3 Results Exceed Estimates
Micron posted revenue of $41.46 billion in fiscal Q3, compared with expectations of $35.84 billion, and reported EPS of $25.11 versus $20.78, marking a significant beat on both top and bottom lines.
2. Analyst Price-Target Increases
Following the earnings beat and strong forward guidance, Deutsche Bank, DA Davidson and Cantor Fitzgerald each raised their price targets, lifting street sentiment on the stock.
3. AI Memory Chip Demand and Supply Contracts
Management cited robust AI memory chip demand and long-term supply agreements with hyperscale customers as the primary drivers behind the $50 billion revenue forecast for the upcoming quarter.
