Prediction: Micron Stock Will Skyrocket After Sept. 30

Micron Technology reports fiscal fourth-quarter earnings on September 30, with analyst Keithen Drury predicting the results will trigger a sharp rally. The stock trades at 6x forward earnings despite a memory chip shortage expected to extend past 2027, as AI hyperscalers absorb all available production capacity.

Drury argues the market has mispriced MU, failing to account for the structural supply-demand imbalance in memory chips. The combination of constrained capacity and surging AI infrastructure demand creates a pricing environment that should lift both margins and revenue through the balance of the decade.

The September 30 report represents the first major catalyst for a revaluation, according to Drury's analysis. Memory chip supply constraints have historically preceded extended upcycles, and current hyperscaler buildouts show no signs of moderating. MU's valuation multiple sits well below historical averages despite these tailwinds.