Micron Is Poised to Surge After Its Fiscal Year Ends

Micron Technology faces a bullish setup as analysts project fiscal 2026 revenue climbing to $129.7 billion—a 3.5x increase—when the fiscal year closes September 30. Earnings per share are forecast to jump ninefold to $73.44, fueled by persistent memory chip supply shortages tied to AI data center buildouts.

MU has already surged 488% over the past year, yet the stock trades at a PEG ratio of 0.14, signaling potential undervaluation relative to growth. Memory prices are expected to extend gains into 2027 as supply constraints persist. For the first quarter of fiscal 2027, analysts anticipate revenue growth of 315% year-over-year, underscoring the magnitude of the demand cycle.

The company's position as a primary supplier during a structural shortage gives it pricing power heading into the new fiscal year. With AI infrastructure spend showing no signs of cooling, MU's trajectory hinges on sustained memory demand and the company's ability to scale production without saturating a tight market.