Micron posted a stronger-than-expected fiscal Q3 and guided for $50 billion in Q4 revenue, signaling demand remains firm despite a recent tech-sector pullback.
Customer prepayments, long-term supply agreements and an Anthropic partnership were cited as evidence that AI-driven memory demand is holding up and reducing the company’s historical cyclicality.
A $250 billion U.S. investment plan underpins the longer-term growth case, while the report argued the stock still offers more than 50% upside based on a discounted cash-flow valuation.
Korean rivals’ aggressive capacity expansion remains the main risk, alongside sentiment-driven volatility that could pressure shares even as Micron’s operating outlook improves.