Micron Stock Falls on Disappointing Outlook: What to Know
Micron stock is lower Thursday as the memory chipmaker's soft current-quarter revenue outlook offsets a fiscal Q3 beat. Here's what you need to know.


Micron Technology (MU) stock fell more than 5% out of the gate Thursday as the memory chipmaker's disappointing fiscal fourth-quarter revenue outlook overshadows its fiscal third-quarter top- and bottom-line beats.
In the quarter ended May 30, Micron's revenue surged 81.5% year-over-year to $6.8 billion, driven by "robust AI-driven demand for data center products." Its earnings per share (EPS) came in at 62 cents compared with a loss of $1.43 in the year-ago period.
"We are gaining share in high-margin products like High Bandwidth Memory (HBM), and our data center solid-state-drives (SSD) revenue hit a record high, demonstrating the strength of our AI product portfolio across DRAM and NAND," Micron CEO Sanjay Mehrotra said in a statement.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The results handily beat analysts' expectations. According to CNBC, Wall Street was anticipating revenue of $6.7 billion and earnings of 51 cents per share.
However, sentiment turned negative toward Micron after the company provided the outlook for its fiscal fourth quarter, which didn't blow away analysts' expectations. MU anticipates revenue of approximately $7.6 billion, plus or minus $200 million, and EPS of roughly $1.08, give or take 8 cents per share. Analysts are expecting revenue of $7.6 billion and earnings of $1.05 per share.
Still, Mehrotra says the company is excited "about the expanding AI-driven opportunities ahead, and are well positioned to deliver a substantial revenue record in fiscal 2025."
Is Micron stock a buy, sell or hold?
Wall Street is very bullish on the tech stock and for good reason. Indeed, MU has been one of the best semiconductor stocks so far this year, up 58% even with today's decline. According to S&P Global Market Intelligence, the average analyst target price for MU stock is $157.23, representing implied upside of more than 16% to current levels. Additionally, the consensus recommendation is a Strong Buy.
Financial service firm Stifel is one of the more bullish outfits on Micron stock with a Buy rating and $165 price target.
"Though Micron's earnings and quarterly outlook exceeded consensus, expectations were clearly elevated ahead of Wednesday’s print, causing the stock to trade-off in the aftermarket," Stifel said in a note this morning. "Ultimately, we see the benefits to pricing and profitability in the interim outweighing other concerns and maintain our Buy rating."
Stifel's $165 price target represents implied upside of nearly 22% to current levels.
Related Content
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
Small Businesses Are Racing to Use AI
The Kiplinger Letter Spurred on by competitive pressures, small businesses are racing to adopt AI. A recent snapshot shows the technology’s day-to-day uses.
-
The Me-First Rule of Retirement Spending
Follow the 'Me-First" rule and you won't have to worry about running out of money when the stock market goes south.
-
I'm a Financial Planner: Could Partial Retirement Be the Right Move for You?
Many Americans close to retirement are questioning whether they should take the full leap into retirement or continue to work part-time.
-
From Mortgages to Taxes to Estates: How to Prepare for Falling Interest Rates
As speculation grows that the Federal Reserve will soon start lowering interest rates, now is a good time to review your financial plans for housing, estate, taxes, investing and retirement to make the most of potential changes.
-
This Is How Lottery Winners Build Lasting Legacies, From a Financial Professional
Winning a massive lottery jackpot, like the recent $1.4 billion Powerball, requires seeking immediate legal and financial counsel, protecting your identity and winnings and planning your legacy.
-
S&P 500 Slips Ahead of Fed Week: Stock Market Today
All eyes are on the Federal Reserve ahead of next week's critical policy meeting.
-
September Fed Meeting: Live Updates and Commentary
The September Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. will do about interest rates.
-
I'm an Investment Strategist: This Is How the Fed's Next Rate Move Could Impact Your Wallet
Interest rate cuts might be coming, which could affect everything from your credit card debt to your mortgage. It's smart to prepare now — here's how.
-
I'm a Retirement Planner: These Are Three Common Tax Mistakes You Could Be Making With Your Investments
Don't pay more tax on your investments than you need to. You can keep more money in your pocket (or for retirement) by avoiding these three common mistakes.
-
Want to Shave 10 Hours Off Your Workweek? A Startup Expert Shows How AI Can Help
Artificial intelligence is overhauling how companies operate, freeing up entrepreneurs and their workers to skip the menial stuff and get down to business.