Goldman Sachs significantly raises Micron's target price to $900, optimistic about Q3 earnings performance

Deep Tide TechFlow News: On June 09, Goldman Sachs published a report, expecting that ongoing market tension will drive Micron’s performance to significantly exceed market consensus expectations and the company’s guidance. Earlier, the bank raised its overall industry outlook and expected the tense conditions to continue throughout fiscal year 2027, bringing higher pricing and profit margins to the industry. Given the sharp rise in the share price and market optimism about the potential for long-term customer agreements, investor positioning remains very positive.

Goldman Sachs expects Micron’s third fiscal-quarter revenue through the end of May to be about 9% higher than market consensus. Driven by upside in pricing, the guidance calls for a significant quarter-over-quarter revenue increase in the final fiscal quarter ending in August. The bank expects revenue, gross margin, and earnings per share for the upcoming quarter to be $37.6 billion, 83.4%, and $22.07, respectively, compared with market consensus of $34.4 billion, 81.9%, and $19.74. For fiscal year 2026, the bank’s revenue and EPS estimates for Micron are 30% and 36% higher than market consensus. Goldman Sachs raised Micron’s target price from $400 to $900, with a “Neutral” rating. (Jin10)