From 24/7 Wall St. · Alex Sirois · · 1m 10s
Micron's Operational Execution Collided with Macro Tape Fatigue
Micron's stock falls despite record earnings as investors weigh durable pricing.
In brief
Micron's stock falls despite record earnings as investors weigh durable pricing. Micron's stock trades 21.6% below its peak despite reporting the best quarterly earnings with $54.23 billion revenue and $33.42 non-GAAP EPS. Originally reported by 24/7 Wall St..
Record Quarterly Earnings
Micron reported the best quarter in its history with $54.23 billion revenue and $33.42 non-GAAP EPS.
“we really don’t have line of sight to when supply and demand balance”
Stock Trades 21.6% Below Peak
Shares sit at $983.23, 21.6% below its 52-week high of $1,254.61.
Strong Forward Multiple
Bulls cite a forward P/E of 5 and PEG ratio of 0.16 with fiscal Q1 revenue guidance of $61.5 billion.
Locked-in Volumes and Pricing
Over 75% of fiscal 2027 shipments are committed with 26 strategic customer agreements through 2030.
Mobile Shipments Decline
Mobile and client bit shipments fell for a second consecutive quarter with institutional investors trimming positions.
Wall Street Targets
49 analysts cover Micron with 9 strong buys, 36 buys, 3 holds, and 1 strong sell.
Hold Recommendation
Micron is a Hold at $983.23 with a buy trigger requiring fiscal Q1 results at or above guidance.
In short
Micron's stock trades 21.6% below its peak despite reporting the best quarterly earnings with $54.23 billion revenue and $33.42 non-GAAP EPS.
