---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40276880.md"
description: "An analysis report from investment bank TD Cowen about Micron Technology$Micron Tech(MU.US):Cowen analysts are not bullish on a short-term surge in Micron's stock price.They believe:•  Even if 2027 earnings per share (EPS) can reach $110, there isn't much room for stock price appreciation.•  The gross margin (profit margin) in Micron's long-term agreements (LTAs) with customers is capped: a minimum of around 60% (floor) and a maximum of over 80% (ceiling).•  The current stock valuation is only 5 times 2027 P/E, indicating the market already expects future gross margins to fall to this low level of 60%.•  Historically, when gross margins fall from high levels, short-term stock performance has been poor (negative impact).Cowen is cautious/bearish on Micron in the short term, believing profit margins will decline and the stock price is unlikely to deliver major positive surprises.It will most likely fluctuate between 450-550."
datetime: "2026-04-29T04:50:38.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40276880.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40276880.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40276880.md)
author: "[Optimus](https://longbridge.com/en/profiles/20639361.md)"
---

# An analysis report from investment bank TD Cowen a…


### Related Stocks

- [MU.US](https://longbridge.com/en/quote/MU.US.md)

## Comments (2)

- **闪迪 · 2026-04-29T05:47:31.000Z**: How can a gross margin of 80% still rise to 100%? Hard disk gross margins are only forty to fifty points, yet they've already been given dozens of times the P/E ratio.