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MU

Micron Technology Inc

NASDAQ: MU · TECHNOLOGY · SEMICONDUCTORS

$517.16
-0.25% today

Updated 2026-04-30

Market cap
$583.22B
P/E ratio
24.38
P/S ratio
10.03x
EPS (TTM)
$21.21
Dividend yield
0.10%
52W range
$78 – $536
Volume
41.9M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Micron Technology Inc (MU) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$517.16
Consensus
$453.00
-12.41%
2030 Target
$1,458.68
+182.06%
DCF
—
—
48 analysts:
18 Buy2 Hold0 Sell

Management guidance

Micron Technology has not published specific revenue guidance for 2026-2030 in the available data. However, management indicated Q2 2026 revenue guidance of $18.7B (implying ~$75B annualized run-rate for H2 2026), and CEO commentary emphasizes AI memory super-cycle with sold-out HBM inventory through 2026. Management is positioning for sustained high-growth driven by AI data center buildout, but specific multi-year targets are not disclosed.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,667.06
$235.0B Rev × 8x P/S
Base case (2030)
$1,458.68
$235.0B Rev × 7x P/S
Bear case (2030)
$1,041.91
$235.0B Rev × 5x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$15.5B$25.1B$37.4B$111.7B$178.8B$245.0B$295.0B$235.0B
Revenue growth—61.6%48.9%198.7%60.2%37.0%20.4%20.0%
EPS$-4.45$1.27$4.78$58.96$99.94$135.00$158.00$88.00
P/S ratio———8.0x8.0x8.0x8.0x7.0x
Implied price———$877.46$1,364.94$1,901.17$2,291.16$1,458.68

Catalysts & risks

Growth catalysts
+ AI memory super-cycle: HBM products sold out through 2026; strong customer commitments from hyperscalers (Meta, Microsoft, Google, Amazon)
+ Geopolitical tailwinds: MATCH Act lobbying for China chip export restrictions strengthens Micron's competitive moat vs. CXMT/YMTC
+ Data center capex acceleration: Agentic AI and inference workloads driving incremental memory/bandwidth demand beyond 2026
+ Advanced node leadership: LPDDR5X and next-gen HBM architectures command premium pricing in AI servers
+ Market share gains: SK Hynix $13B capex expansion signals industry capacity constraints, supporting Micron pricing power through 2027-2028
Key risks
- Memory pricing cycle compression: If competitors (SK Hynix, Samsung, CXMT) rapidly scale capacity post-2027, DRAM/HBM ASPs collapse as they have historically
- AI capex deceleration: If hyperscaler spending moderates after 2027 (due to ROI concerns or macro slowdown), revenue growth rates normalize to low-teens or mid-single digits
- China export restrictions backfire: If U.S. policy inadvertently accelerates Chinese domestic memory chip development, Micron loses access to ~20% of global memory TAM
- Geopolitical escalation: Taiwan semiconductor manufacturing concentration risk if cross-strait tensions disrupt supply chain (Micron uses TSMC foundry services)
- Capital intensity pressure: Sustaining $15-17B annual capex to maintain technology leadership limits free cash flow and dividend growth

Methodology

Micron Technology Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 48 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 23, 2026.