Micron’s Sharp Pullback Rekindles Debate Over Its Upside

WHO:

Yahoo Finance - Goldman Sachs analyst James Schneider maintained a $1,250 price target for Micron and said the risk/reward had become more attractive given the high probability of strong free cash flow in coming quarters. Schneider rated Micron “Neutral.”

Yahoo Finance - Micron Technology (NASDAQ: MU) makes DRAM and NAND flash, including high-bandwidth memory (HBM) used with AI accelerators. It has the second-largest market share in DRAM and third-largest in HBM.

24/7 Wall St. - Micron President and Chief Operating Officer Manish Bhatia said, “We are seeing stronger demand drivers than we’ve seen before,” and said more than 75% of fiscal 2027 shipments were committed.

24/7 Wall St. - Seagate Technology (NASDAQ: STX) and Western Digital (NASDAQ: WDC) make mass-capacity hard disk drives; SanDisk (NASDAQ: SNDK), spun out of Western Digital, operates as a flash-storage company.

24/7 Wall St. - CNBC’s Mike Santoli said, “If the market believed the earnings, it wouldn’t be under four times.”

WHAT:

Yahoo Finance - Micron shares fell 29.74% over the past week and 37.21% over the past month; since June 1, they declined 36.59%.

24/7 Wall St. - A major cloud provider qualified Seagate’s heat-assisted magnetic recording (HAMR) Mozaic platform.

24/7 Wall St. - Seagate’s trailing and forward P/E ratios were 24 and 12, respectively; Western Digital’s forward P/E was 11; SanDisk’s trailing and forward P/E ratios were 7 and 4.

24/7 Wall St. - SanDisk’s eight-for-one stock split was set to take effect on November 19.

Yahoo Finance - Goldman Sachs analyst James Schneider said semiconductor stocks were “clearly in oversold territory.” He named Nvidia, Broadcom, and AMD as top stocks to buy.

Yahoo Finance - The Philadelphia Semiconductor Index fell 21% over the past month and 6% in November.

Yahoo Finance - Schneider said Nvidia and Broadcom traded at 12 and 13 times a “no growth” 2028 earnings baseline, respectively, and described AMD as attractive given its potential growth.

Yahoo Finance - Goldman Sachs said Micron was approaching tangible book value. Yahoo Finance AlphaSpace data put Micron’s forward P/E ratio at 4.2.

Yahoo Finance - The article reported that 45 analysts rated Micron buy or strong buy, while one rated it strong sell.

Yahoo Finance - One article reported Micron shares below $740, down more than 40% from a 52-week high of $1,255; it cited a trailing P/E of 10 and a nearly 900% five-year share-price rise.

Yahoo Finance - Another article reported Micron’s revenue rose 380% to $54.2 billion in fiscal Q4 2026, while non-GAAP earnings rose about 1,000% to $33.42 per share. The company forecast fiscal Q1 2027 revenue of $61.5 billion, a 352% year-over-year increase.

24/7 Wall St. - Micron shares were reported at $733.98, up 6%; the article cited trailing and forward P/E ratios of 9 and 4, respectively. Micron reported $54.23 billion in Q4 revenue, up 379.3%, and $33.2 billion in quarterly free cash flow.

24/7 Wall St. - Micron authorized a $35.16 billion share-repurchase program. A CNBC panelist’s claim that Micron would repurchase $100 billion of stock was described as opinion.

24/7 Wall St. - Seagate and Western Digital shares were reported up 11%, at $512.44 and $291.63. Seagate reported $4.23 billion in revenue, up 61%; Western Digital reported $4.38 billion, up 55.5%, and a 17% dividend increase.

Yahoo Finance - Micron’s shares were reported at $669.51 after falling 15.81% in one session. 24/7 Wall St. set a $913.86 target, implying 36.5% upside, and rated the stock “BUY” with 90% confidence.

Yahoo Finance - Micron’s Q4 revenue of $54.23 billion exceeded a $50.97 billion estimate, and EPS of $33.42 marked its eighth consecutive earnings beat. The article said shares were down 46.6% from a $1,254.61 52-week high but up 130.16% year to date.

Yahoo Finance - Micron had 26 supply agreements covering about 35% of sales through 2030; HBM pricing was raised for calendar 2027.

WHERE:

Yahoo Finance - Bloomberg reported Micron paused work on a Taiwan plant after a labor dispute.

WHY:

Yahoo Finance - Goldman Sachs cited uncertainty about closing the funding gap between AI-related capital spending and free cash flow, and whether data-center land, power, and construction capacity would meet semiconductor demand estimates.

Yahoo Finance - Goldman Sachs’ Schneider said Micron’s valuation was difficult to ignore given its fundamentals. The article attributed investor concern to the possibility that a Democratic-led Congress could slow AI infrastructure investment.

Yahoo Finance - Articles attributed the selloff to concerns about AI overspending, possible reductions in AI infrastructure investment, and the risk that memory supply growth will end shortages and slow Micron’s cyclical earnings.

Yahoo Finance - Micron management said demand continued to outpace supply and that it had no “line of sight to when supply and demand balance.”

HOW:

24/7 Wall St. - Micron guided fiscal Q1 2027 revenue to $61.5 billion, plus or minus $1.5 billion. Another Yahoo Finance article reported non-GAAP EPS guidance of $38.15, plus or minus $1.00.

Yahoo Finance - SK Hynix said half its memory supply for 2027 and 2028 had sold out and expected demand to outpace supply through 2030.

(UPDATED November 11, 2026 07:01 UTC)

Micron shares plunged as investors worried AI spending could slow and memory shortages ease. Yet the company reported record revenue and forecast strong sales. Goldman maintained its $1,250 price target, citing attractive valuation and cash flow.

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(UPDATED November 10, 2026 22:04 UTC)

Micron shares have slumped despite record earnings, amid worries AI spending may cool and memory supply grow. The company forecasts strong revenue as demand outpaces supply. Goldman Sachs sees improved risk-reward, maintaining its $1,250 price target.

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(UPDATED November 10, 2026 13:02 UTC)

Micron reported quarterly revenue of $54.23 billion, up nearly 380%, with earnings also surging. Shares have plunged amid concerns about AI spending and future memory supply. Micron forecasts $61.5 billion in next-quarter revenue as demand continues outpacing supply.