Micron Technology, Inc. (NASDAQ:MU) delivered a massive fiscal Q2 beat and far stronger-than-expected Q3 guidance, triggering a wave of bullish analyst revisions highlighting record gross margins, tight memory supply and early strategic customer agreements around AI-driven demand.
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‘Significant Beat and Raise’
Needham analyst N. Quinn Bolton maintained Micron as a Buy and raised the price target to $500 from $450.
Q2 was a “significant beat and raise,” according to the firm. Revenue and EPS came in far ahead of estimates, driven by sharply higher DRAM and NAND pricing and record revenue across DRAM, NAND, HBM and all business units.
‘Stunning’ Q2
Rosenblatt analyst Kevin Cassidy maintained Micron with a Buy and raised the price target on MU to $600 from $500, calling the quarter “stunning.”
The firm highlighted newly introduced Strategic Customer Agreements (SCAs) with one signed 5‑year deal and more under negotiation, viewing these cross‑cycle, commitment‑based contracts as an attempt to smooth memory’s historic boom‑bust cycles.
Goldman is Cautious
Goldman Sachs analyst James Schneider maintained a Neutral rating, but …