Micron Slips Into Earnings Week as JPMorgan Backs a Brighter November Outlook
Published on 09/28/2026 at 18:40 | Editorial boerse-global.de
Micron Technology shares came under pressure to start the week, with the stock losing ground as rising US Treasury yields and firmer crude oil prices weighed on the broader semiconductor complex. The pullback lands just two days before the memory-chip maker reports results for its fiscal fourth quarter of 2026, scheduled for Wednesday, September 30.
The two sources differ on the size of Monday's decline — one pegs the drop at 3.3 percent to EUR 918.40, the other at 2.5 percent to EUR 925.80. Either way, the weakness reflects macro-driven caution across AI memory names rather than anything specific to Micron, with profit-taking after the sector's extended rally and investor reluctance to build fresh positions ahead of the numbers adding to the selling.
Estimates Set a High Bar
Consensus expectations for the August-ended quarter call for revenue of $51.4 billion, a gross margin of 86.2 percent and earnings per share of $31.73. JPMorgan's analysts expect Micron to clear that bar, and they see the company lifting its guidance for the November quarter as well. The bank points to firmer signals across customer demand, a tighter management view of calendar 2027 and sustained momentum in the HBM4 ramp-up.
Should investors sell immediately? Or is it worth buying Micron Technology?
That HBM4 transition is the pivotal variable. If the product cycle unfolds as anticipated, Micron should be able to extend its pricing power over customers — and while margin forecasts above 86 percent look ambitious, they capture the unprecedented scarcity in the high-performance segment. Investors getting cold feet now are, in effect, looking past that leverage.
A Management Sale That Says Little
One item that has drawn attention is CEO Sanjay Mehrotra's sale of 37,458 shares on August 21 under a pre-arranged trading plan, at prices between $959.14 and $968.77. Such automated transactions are typically about personal diversification, and they offer little evidence of operational trouble ahead.
On the research side, Micron confirmed that Deirdre Hanford was appointed Corporate Vice President and President of Micron Research Labs on September 15, putting her in charge of key corporate research programs.
The Verdict Arrives Wednesday
Micron will release its fiscal fourth-quarter 2026 results after the US close on Wednesday, when management will need to back up the experts' targets. Despite Monday's decline, the stock remains up 264 percent year to date — a gain that leaves little room for disappointment and explains why so many market participants are waiting on the sidelines before committing new capital.
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Micron Technology Stock: New Analysis - 28 September
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