Micron Stock (MU) Extends Post-Earnings Decline — But Phillip Securities Lifts Price Target

Micron MU -2.41% ▼ shares continue their losing streak following the company’s latest earnings report last week. The stock is down by over 1% at market open on Tuesday after dropping more than 12% following its earnings report. Despite the short-term weakness, four-star-rated analyst Yik Ban Chong at Phillip Securities remains optimistic, raising his price target on MU stock from $500 to $530, implying 31% upside.

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For context, Micron makes NAND chips for long-term storage like SSDs and smartphones, and DRAM chips that act as fast working memory in computers and data centers. For Q2 FY26, Micron reported $23.9 billion in revenue and $12.20 EPS—well above the consensus of $19.7 billion and $9. Looking ahead, the company expects $33.5 billion in sales and $19.15 EPS for the May quarter, which would be 42% and 70% above estimates, respectively.

Phillip Securities Stays Bullish on MU Stock

Chong gave Micron a Buy rating, citing strong profitability and favorable industry trends. He highlighted that the company’s latest quarter posted record revenue and earnings, driven by higher memory bit shipments and rising DRAM and NAND prices, showing solid margin growth.

Chong’s bullish view also reflects Micron’s long-term outlook, supported by a five-year strategic customer agreement and wins in advanced high-bandwidth memory for top AI GPUs. Despite geopolitical risks and potential helium supply issues, he believes Micron is better positioned than regional peers, with tight supply and a reasonable valuation suggesting further upside.

Citi Raises MU Price Target

Before this, Citi’s five-star analyst Atif Malik raised MU’s price target from $430 to $510 while maintaining a Buy rating. Malik noted that Micron shares are moving lower due to concerns over higher capital spending in fiscal 2027 and peak gross margins. However, he believes the stock could still see gains but warns that some money may rotate into semiconductor capital equipment in the near term because of higher capex.

Is Micron Stock a Good Buy?

Wall Street analysts maintain a Strong Buy rating on MU stock, with 25 Buys and two Holds assigned over the past three months. Micron’s average price target of $537.57 implies about 33.66% upside from current levels.

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