Memory chip company Micron (MU) is trending lower in Thursday's session ahead of its fiscal fourth-quarter earnings, scheduled for September 30. Wall Street expects Micron to report Q4 FY26 EPS of $31.49, up sharply from $3.03 a year ago. Revenue is projected to surge over 350% to $50.91 billion, driven by strong AI demand and higher pricing.

Ahead of the earnings report, analysts remain largely positive on MU stock. Overall, Wall Street expects further upside for MU stock in one year from today. Based on 28 analysts, the average 12-month price target is $1,559.40, implying 47% upside from the current levels.

Here's what analysts expect from MU stock ahead of the September 30 earnings report.

Latest Analysts' Views on MU Stock

Ahead of Q4 FY26 results, Rosenblatt analyst Kevin Cassidy reiterated a Buy rating on MU stock and maintained his $1,500 price target. The 5-star analyst expects another "beat-and-raise" report, with DRAM "de-specing," particularly in HBM, pointing to a supply-demand imbalance that could continue through CY27.

Cassidy also expects Micron's strategic customer agreements (SCAs) to increase and account for up to 40% of the company's bits produced over the next three to five years. He expects average selling prices to rise sequentially in Q1 FY27, which could provide upside to his gross-margin estimate. Cassidy also expects management to discuss higher share repurchases through FY27 as certain CHIPS Act restrictions expire on December 9, 2026.