Episode
MU Stock: Micron’s Revenue Exploded 346% On AI Memory - Still A Buy At $1 Trillion? Q3 FY2026
- Published
- Jun 25, 2026
- Duration seconds
- 628
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Summary
MU (Micron) reported Q3 FY2026 earnings on 2026-06-24. Stock fell 0.3% on the print. Here's the breakdown: Is MU a buy, hold, or sell after this quarter? In this Micron (MU) Q3 FY2026 earnings breakdown we cover the revenue and EPS print, the 8-quarter trend, segment detail, the free-cash-flow bridge, forward guidance, peer valuation, and management & earnings quality - ending with a clear price-aware Buy / Hold / Avoid Call and a Wall Street consensus comparison. If you follow Technology stocks or MU earnings, this is the Q3 FY2026 deep dive. 🎧 Listen on Podbean: https://chargedalpha.podbean.com (also on Apple Podcasts & Spotify) 🔔 Subscribe for daily earnings deep-dives → @ChargedAlpha | Call tracker: chargedalpha.com THE CALL: BUY (3/5 conviction, MODERATE) - CURRENT @ $1048.51 - BUY - BUY below $1000.00 with $800.00 stop - AVOID above $1500.00 TRIGGER: Q4 $50B guide lands + 2027 HBM stays sold out / allocated (supercycle extends beyond the current visibility) WINDOW: Through FQ4 2026 earnings (September 2026) TRACKER: chargedalpha.com WALL STREET CONSENSUS - Ratings: 30 Strong Buy / 27 Buy / 11 Hold / 2 Sell / 0 Strong Sell - STRONG BUY - Median 12-month price target: $1350.00 (range $900 - $1800) - Charged Alpha vs consensus: ALIGNED (but more cycle-aware) THESIS The purest AI-memory play at the peak of a historic supercycle - record $41.46B revenue, 84.6% gross margin, HBM sold out through 2026, guiding to $50B - trading at only ~8-9x forward earnings despite an 11x run, because earnings exploded even faster than the stock. Bull lever: If HBM stays sold out into 2027 and AI-accelerator demand keeps outrunning memory supply, the supercycle extends, the ~8-9x multiple proves absurdly cheap, and the stock re-rates substantially higher as the market accepts t…