Micron (MU) will report its Q2 FY26 earnings results tomorrow, March 18, and the options market is expecting a volatile reaction. Based on TipRanks’ options pricing tool, traders expect Micron stock to move about 9.94% in either direction following the earnings report. This implied move is higher than the stock’s average post-earnings move (in absolute terms) of 5.5% over the past four quarters, suggesting that investors expect tomorrow’s news to be a major catalyst.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Stock Price Performance
The stock has already surged about 62% so far this year. This rally has been fueled by three main factors:
- AI Demand: An explosion in the need for memory chips used in artificial intelligence data centers.
- Pricing Power: Rising memory prices combined with a very tight global supply.
- The Nvidia Partnership: Recently, at GTC 2026, Micron confirmed it has begun volume shipments of its next-gen HBM4 memory for Nvidia’s (NVDA) advanced Vera Rubin platform.
What Analysts Are Expecting on March 18
Wall Street expects Micron to report Q2 FY26 earnings per share (EPS) of $9.19, indicating a massive 460%+ year-over-year growth. Meanwhile, revenue is expected to rise over 135% to $19.77 billion.
The solid growth estimates reflect the strong demand for high-bandwidth memory (HBM) and DRAM solutions in data centers.
Analysts’ Views Ahead of Micron’s Q2 Earnings
As Micron prepares to report its fiscal Q2 results tomorrow, Wall Street analysts are growing increasingly bullish. The primary driver is a “super-cycle” in memory demand, fueled by the massive AI infrastructure build-out.
TD Cowen analyst Krish Sankar kept his Buy rating, while lifting his price target from $450 to $500. The five-star analyst expects Micron to deliver a hefty Q2 earnings beat. He believes long-term agreements (LTAs) will support margins beyond 2027.
For the February quarter, he forecasts EPS of $10.40 and guides for $13.50 EPS for the May quarter. For FY26 and FY27, Sankar models $65 and $90 EPS, respectively, with book value per share reaching $120 by end-2026 and $215 by end-2027.
Likewise, RBC Capital analyst Srini Pajjuri raised his price target on Micron to $525 from $425 and kept an Outperform rating. He expects strong pricing to continue through 2026, supported by rising demand for high-bandwidth memory (HBM), especially with Nvidia’s Rubin platform driving higher memory content.
Is Micron a Good Stock to Buy?
Analysts remain optimistic about Micron’s long-term prospects. On TipRanks, MU stock commands a Strong Buy consensus rating based on 26 Buys and one Hold rating. The average Micron price target of $455.74 implies 3.2% upside potential from current levels. Over the past year, MU shares have rocketed over 328%.
