Micron’s Path to $1,000 Per Share Runs Through the AI Memory Boom

Quick Read Micron (MU) guided Q2 FY2026 non-GAAP EPS of $8.42 and non-GAAP gross margins of 68%, with Street estimates implying $19.15 EPS for next quarter versus consensus of $11.70, while the stock trades at just 14x forward P/E despite 175% year-over-year earnings growth and four consecutive quarters of EPS beats. CEO Sanjay Mehrotra forecast the HBM market expanding from $35B in 2025 to $100B by 2028 with industry supply remaining substantially short of demand, positioning Micron’s locked-in calend ...