Goldman Sachs Raises Micron Target Price to $900, Expects Q3 Revenue to Beat Consensus by 9%

According to Goldman Sachs, the firm raised its price target for Micron Technology from $400 to $900 for fiscal Q3 2026 (ended May 31), citing expectations of significant earnings outperformance driven by sustained market tightness. Goldman Sachs forecasts Q3 revenue of $37.6 billion versus consensus $34.4 billion, gross margin of 83.4% versus 81.9%, and earnings per share of $22.07 versus $19.74. The bank also expects Q4 guidance (ended August 31) to show material sequential revenue growth driven by pricing strength. For the full 2026 fiscal year, Goldman Sachs' revenue and EPS forecasts are approximately 30% and 36% higher than consensus, respectively. The bank maintained a neutral rating on Micron.
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