Micron Technology stock fell 2.05 percent after record earnings

Published on 10/04/2026 at 18:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Micron Technology stock posted USD 54.23 billion in fiscal Q4 revenue, while fiscal Q1 guidance reaches USD 63 billion. Analysts cite USD 1,385.93 as the average target.

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Micron Technology (ISIN US5951121038) stock was last at USD 1,074.89 on Nasdaq on October 2, 2026 at 4:00 p.m. ET, down 2.05 percent from USD 1,097.39. The catalyst was a record fiscal fourth quarter, with Micron Technology reporting the results on September 30, 2026.

Revenue reached USD 54.23 billion

Fiscal Q4 2026 revenue reached USD 54.23 billion, compared with USD 41.46 billion in the prior quarter and USD 11.32 billion a year earlier. Micron Technology reported GAAP net income of USD 37.70 billion, or USD 32.87 per diluted share, while non-GAAP net income reached USD 38.40 billion, or adjusted EPS of USD 33.42.

The operating leverage was equally important. Quarterly operating cash flow reached USD 43.97 billion, compared with USD 25.39 billion in fiscal Q3 2026 and USD 5.73 billion in the year-earlier quarter.

Guidance sets a higher bar

Management set fiscal Q1 2027 revenue guidance at USD 60 billion to USD 63 billion and adjusted EPS guidance at USD 37.15 to USD 39.15, according to MarketBeat. The midpoint of the revenue range is USD 61.5 billion, which would exceed fiscal Q4 revenue by USD 7.27 billion if achieved.

The guidance also carries a capacity signal. MarketBeat reported that more than 75 percent of Micron's fiscal 2027 output is committed, while customer discussions extend into 2028, increasing visibility but also raising the importance of execution and memory pricing.

Analysts keep targets above USD 1,000

MarketBeat lists a Moderate Buy consensus from 46 analysts, including 41 Buy ratings and five Holds, with an average target of USD 1,385.93. That target lies 28.9 percent above the October 2 price of USD 1,074.89, making the consensus gap material even after Micron's strong earnings report.

Yahoo Finance reported that Citi raised its target from USD 1,150 to USD 1,300 and that Baird raised its target to USD 1,520. Those figures frame the debate: demand is expanding rapidly, while the stock's valuation and Micron's planned capital spending remain central counterweights.

Micron stock stays below its yearly high

Micron Technology stock was last at USD 1,074.89 on Nasdaq on October 2, 2026 at 4:00 p.m. ET. Its 52-week range was USD 179.61 to USD 1,255, placing the latest price USD 180.11 below the yearly high and giving the market a clear test of whether earnings growth can support further revaluation.