Wall Street is on high alert as Micron Technology approaches a big announcement, given the company’s reputation for dramatic swings following its earnings reports. This year, Micron’s shares have soared about 22%, outperforming a broader market that remains sluggish. The chipmaker is set to release its fiscal second-quarter results after the market closes on Thursday. Known for its volatility, Micron’s stock prices can skyrocket or plummet significantly—as illustrated by last year’s movements. For instance, shares jumped 14.7% on September 26 when Micron’s first-quarter revenue projection exceeded expectations. However, come December, the stock took a 14% hit following lackluster second-quarter guidance. With a beta of around 2, Micron’s stock shows a vivid price volatility, as noted by FactSet. Comparatively, a market’s benchmark beta stands at 1.
Despite the dramatic ups and downs, analysts maintain a positive outlook for Micron. They expect the company’s chip business to gather strength as pricing and demand trends look poised to improve as the year progresses. Out of 39 analysts covering Micron, 34 recommend buying the stock, according to data from LSEG. Here’s a look at what different firms anticipate as results loom:
Citi is sticking with its buy rating and maintaining a $150 price target. Christopher Danely from Citi anticipates "decent results" but warns that guidance might not meet consensus expectations. He sees potential in DRAM pricing lifting later this year. His $150 target suggests a nearly 47% increase potential from Wednesday’s closing price. Danely expressed optimism regarding Micron’s AI-related prospects and DRAM’s anticipated recovery due to the supply-demand shifts, forecasting its 2026 EPS to exceed consensus by 39%.
Wells Fargo maintains an optimistic stance, staying overweight and suggesting Micron’s stock could climb to $130. Analyst Aaron Rakers projects inventory levels will recover in the second half of the year, boosting Micron’s stand in the DRAM and NAND markets. He believes Micron’s robust position and the improving landscape present a compelling risk-reward profile.
According to JPMorgan analyst Harlan Sur, Micron’s upcoming quarterly results should meet market expectations. Sur expects the firm to benefit from strong DRAM pricing and enduring demand for its high-bandwidth memory (HBM). He highlights the ongoing firmness in HBM demand and sees no decrease in AI capital expenditures, which suggests a stable outlook for the latter half of 2025.
UBS echoes a positive sentiment with its buy rating and sets a $125 price target. Analyst Timothy Arcuri notes potential downsides in NAND may be counterbalanced by strong HBM shipments. He predicts margins will increase beyond the May quarter, seeing this period as the low point.
Stifel‘s Brian Chin remains bullish with a buy rating and a $130 target, anticipating better pricing for Micron’s NAND tech in the upcoming quarters. While Chin has positive expectations for Q2, he adjusted his Q3 predictions due to ongoing weak memory pricing. However, he believes the company should witness recovery in sales and earnings in the Q4 period, acknowledging management’s foresight of a decline in third-quarter gross margins.
Overall, Micron seems to be gearing up for a promising future amid evolving demand dynamics and strategic positioning in semiconductor technology.
