Micron ($Micron Technology(MU)$ ) is holding strong support above $1,000, which looks like the setup for a quick move toward $1,100 by Friday. The bullish momentum here is backed by analysts pointing to the cyclical memory downturn having bottomed, driven by massive AI-related demand. Short-term dips back to the $1,000 level still look like high-conviction buying opportunities, as long as you account for $Micron Technology(MU)$ 's typical high-beta volatility.
$Micron Technology(MU)$ I went through all the major earnings from this quarter and put together a cheatsheet. The common thread across management commentary is pretty clear. The focus is shifting fast from who had the best AI exposure during 2024-2026 to who has the best memory exposure for 2026-2028. The market is likely going to have to re-rate memory, compute, and connectivity higher, because the memory shortage keeps getting worse. Some of the biggest names positioned around the memory shortage are Micron, Nvidia, Astera Labs, Credo, Marvell, Sandisk, Western Digital, and Broadcom.
$Micron Technology(MU)$ Took a $64k loss on MU calls. Still at $1.24M realized for the year though, so I'll take it on the chin. All-time high by earnings.
$Micron Technology(MU)$ The run into earnings has started, with 1,350+ possible before the report in three and a half weeks, at just 10% higher. That works out to around 100 per week.
$Micron Technology(MU)$ The latest news mentions a Motley Fool prediction that Micron stock will skyrocket after Sept. 30. I'm accumulating more MU for the long term, expecting significant rewards in the near future.
$Micron Technology(MU)$ I posted many times over the last 1.5 years that simply riding earnings growth would make really good money. Those posts started when the company earned 8.29 per share in fy 25. We're now looking at 155 to 200 this fy, but let's just use the 155. The peak PE I saw was in June 26. That was about 17. 155 per share at 17 puts the share price around 2,635. A 25 or 30 PE would be great, but I'm completely satisfied with the 17 and the 2,635 price. Possibly higher as the 155 is likely low. I'm not predicting anything. Just using earnings estimates and prior real PEs to assess what's possible.