Micron Technology (MU) will report its fourth-quarter FY25 results on September 23. MU stock has climbed about 88% year-to-date and 81% over the past year, thanks to the strong demand for Micron’s memory and storage chips used in AI, data centers, and consumer devices. Heading into Q4 earnings, Wall Street remains highly bullish, supported by stronger cloud spending, firm long-term contracts, and a tight supply of DRAM and NAND chips.
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Micron makes memory and storage products for AI systems. For context, DRAM and NAND are key types of memory chips. DRAM is dynamic memory used in PCs, servers, and AI hardware, while NAND is flash storage found in Solid-State Drives (SSDs) and other devices.
What to Expect from Micron on September 23
Wall Street analysts expect Micron to report earnings of $2.78 in Q4, compared to $1.18 in the same quarter last year. Meanwhile, analysts project Q4 revenues of nearly $11.12 billion, according to the TipRanks Analyst Forecasts Page. This marks a year-over-year increase of about 43%.
Analysts’ Take Ahead of Q4 Earnings
Heading into Micron’s Q4 earnings results, Mizuho analyst Vijay Rakesh raised his price target on the stock from $155 to $182 while keeping an Outperform rating. The 5-star analyst expects Micron to benefit from stronger demand for high-bandwidth memory (HBM), boosted by Nvidia’s (NVDA) GB300 ramp. He also sees tight supply helping support higher DRAM and NAND prices.
Looking ahead, the analyst pointed to pricing tailwinds in DRAM and NAND through late 2025. He also noted that nearline SSD demand could grow in 2026–27 as hard drive supply becomes more limited.
Similarly, Deutsche Bank analyst Sidney Ho reiterated his Buy rating on the stock and raised the price target to $175 from $155 per share. The 5-star analyst sees continued tailwinds from tight DRAM supply and stronger NAND pricing, which should drive gross margins above 50%.
Is Micron a Good Stock to Buy?
Wall Street analysts maintain a Strong Buy rating on Micron stock, with 24 Buys and four Holds assigned over the past three months. The recent rally has brought the stock close to Micron’s average price target of $157.15, implying about 0.39% downside from current levels.
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