Micron Technology Inc. (MU) stock has surged about 282% over the past year, driven by strong demand for its memory and storage solutions, especially in AI and data-intensive workloads. The company’s earnings outlook remains solid, with Wall Street expecting significant EPS growth by fiscal 2026. Despite the rally, Micron’s valuation appears modest compared to its projected earnings power, suggesting further upside potential.

In Q1 of fiscal 2026, Micron reported strong revenue growth across all segments, benefiting from higher shipment volumes and improved pricing. The company’s gross margin expanded to 56.8%, reflecting strong profitability and operating leverage. Analysts forecast EPS of $32.19 for fiscal 2026, implying over 300% YOY growth.

Despite the stock’s rally, Micron appears undervalued at 12 times forward earnings, indicating significant upside potential. Wall Street analysts maintain a consensus “Strong Buy” rating on MU stock, highlighting optimism about the company’s future prospects.

Read more at Barchart: Micron’s 2026 Earnings Upside Makes MU Stock Hard to Ignore