Micron Technology, Inc. (MU) earnings on September 30, 2026

After the market closes Q2 2026

More Micron Technology, Inc. earnings

Prior outlook: Optimistic Outcome: Accurate

Micron's stock rose 4% after its quarterly report. The gain matched what investors were expecting heading into the announcement, supported by strength in AI-related stocks.

MU price around the earnings

1097.39

Change: +3.9%

2026-10-01, 20:00 UTC

Start of the measured window End of the measured window
1025.55 1049.50 1073.44 1097.39 1056.25
Price series around the eventClosing price per minute from before the event to the end of the measured window.No trading (market closed)
September 30, 2026 October 1, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • Start of the measured window
  • End of the measured window
  • Market open
  • No trading (market closed)
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Optimistic Outcome: Accurate

Thesis published
Results released

Strong technical picture, analyst upgrades, but retail-heavy

The technical picture shows a strong recent upward move and analysts have raised their price targets to around $152. However, the stock has attracted heavy retail interest and carries elevated volatility expectations that create some caution.

Context analyzed before publication

Summary
Strong technical picture, analyst upgrades, but retail-heavy
Playbook
The stock shows a +14.85% move over 14 days and +11.20% outperformance versus the QQQ index. Multiple analysts have upgraded with price targets around $152, about 42% above current levels.
Trend
Expert opinion stable with consistent analyst support

Analysts

Drivers

  • Analysts Positive

    Analysts have assigned strong buy ratings with a $152 price target, about 42% above current levels. Recent upgrades came from Wedbush, Baird, and Rosenblatt.

Evidence

Analyst consensus
Strong buy
Consensus average (1-5)
1.37
Analysts covering the stock
46
Average price target
1,520.76
Lowest price target
361
Highest price target
2,200
Upside to price target
42.3%
Quarterly earnings growth
1,398.3%
Revenue growth
345.7%
Forward EPS
161.49
Trailing EPS
44.2
Analyst moves in the last 60 days
9
  • Strong buy: 9
  • Buy: 36
  • Hold: 3
  • Sell: 0
  • Strong sell: 1
Strong buy
9
Buy
36
Hold
3
Sell
0
Strong sell
1
  • September 28, 2026 · Wedbush: Reiterates rating (Outperform → Outperform)
  • September 28, 2026 · Baird: Maintains rating (Outperform → Outperform)
  • September 24, 2026 · Rosenblatt: Maintains rating (Buy → Buy)
  • September 23, 2026 · Wells Fargo: Maintains rating (Overweight → Overweight)
  • September 23, 2026 · Citigroup: Maintains rating (Buy → Buy)
  • September 18, 2026 · RBC Capital: Reiterates rating (Outperform → Outperform)
  • August 25, 2026 · Mizuho: Maintains rating (Outperform → Outperform)
  • August 14, 2026 · New Street Research: Upgrades rating (Neutral → Buy)
  • August 7, 2026 · Citigroup: Maintains rating (Buy → Buy)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
High
Normalized volume
95.7%
Messages
29
News
Sources (7)

Technicals

Drivers

  • Technical Positive

    The stock shows +14.85% performance strength over 14 days and +11.20% relative strength versus the QQQ index, market review about 15% below its 52-week high.

Evidence

Price when the context was analyzed
1,064.98
Average true range (ATR)
4%
Distance to 52-week high
-11.9%
14-day change (14d)
+14.8%
30-day change (32d)
+14.2%
30-day relative strength
+11.2%
QQQ change (32d)
+3.0%
Nearest support
1,064.52
Distance to nearest support
0%
Nearest resistance
1,073.44
Distance to nearest resistance
0.8%
Volume accumulation ratio (14d / 46d)
0.59
  • Mid: 1,064.52 (0% away, 0.01 ATR, 7 touches)
  • Mid: 1,057.92 (0.7% away, 0.16 ATR, 4 touches)
  • Mid: 1,051.15 (1.3% away, 0.32 ATR, 3 touches)
  • Mid: 1,073.44 (0.8% away, 0.2 ATR, 7 touches)
  • Mid: 1,083 (1.7% away, 0.42 ATR, 11 touches)
  • Minor: 1,089.35 (2.3% away, 0.57 ATR, 4 touches)

Trends

Evidence

Average earnings surprise
+20.3%
  • June 24, 2026: actual EPS 25.11 vs estimate 20.69 (surprise +21.4%)
  • March 18, 2026: actual EPS 12.2 vs estimate 9.16 (surprise +33.2%)
  • December 17, 2025: actual EPS 4.78 vs estimate 3.96 (surprise +20.6%)
  • September 23, 2025: actual EPS 3.03 vs estimate 2.86 (surprise +5.9%)

Expected move

Drivers

  • Past earnings Positive

    The June 2026 earnings beat exceeded expectations by 21% with an 18% price gap, and recent quarterly results continue showing strong execution.

Implied move
+6.5%
Source
Options chain

Reactions over its last 20 earnings

Median move
5.8%
75th percentile move
10.2%
90th percentile move
14.8%
Up / down moves
8 / 12
Average up move
+10.2%
Average down move
-5.0%

Monitoring and close

What Micron Technology, Inc. reported

Status
Finished
Actual EPS33.42
EPS estimate31.45
EPS surprise+6.3%
Revenue$54,229 million
Revenue estimate$50,751 million
Revenue surprise+6.9%

Micron posted record Q4 earnings, but the stock fell 1.9% as analysts raised price targets. The CFO said there's no visibility on when the memory shortage will end.

Sources (50)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, results beat expectations on both earnings and revenue and the price is indicating about -0.8% pre-market, a move below the stock's usual reaction (roughly 6%). The figures don't confirm the prior scenario: that move is too small to draw conclusions from.

How the stock reacted

Outcome
Accurate
Consolidated
+3.9%
Max favorable move (MFE)
4%
Max adverse move (MAE)
3.2%