Micron Stock Jumps 36% in Six Months: Is There More Upside Ahead?

What happened

Micron (MU) gained 35.9% over the past six months, while the Zacks Computer and Technology sector declined 3.9% in the same period; Texas Instruments, NVIDIA and Marvell Technology gained 12.1%, 6.7% and 3.1%, respectively, over the past six months. The source attributes the rally to Micron's growing importance in the AI ecosystem, where rapid AI infrastructure expansion is creating enormous demand for advanced memory chips, particularly HBM, DRAM and data center SSDs. Micron's fiscal Q4 2026 revenues were $54.23 billion, up 379% year over year, marking its sixth consecutive quarterly revenue record; non-GAAP EPS surged to $33.42 from $3.03 in the year-ago quarter; non-GAAP gross margin expanded to 87% from 45.7%; Q4 operating cash flow reached nearly $44 billion, taking full fiscal 2026 to $89.68 billion. For fiscal Q1 2027, management projects revenues of $61.5 billion plus or minus $1.5 billion and non-GAAP EPS of $38.15 plus or minus $1, indicating approximately 351% year-over-year revenue growth and 698% earnings growth (forecast, not achieved). Other reported facts: Q4 HBM revenues grew faster than total company revenues, and most of 2027 HBM bit supply is secured under agreements at significantly higher prices than the previous year; the HBM4 production ramp-up is progressing and Micron is working with NVIDIA on a custom HBM4E solution; Q4 data center SSD revenues came in at $10 billion, more than 10 times the year-ago level; Micron has signed 26 Strategic Customer Agreements (SCAs) expected to cover more than 35% of revenues through 2030, with customer financial commitments increased to $32 billion; the ID1 fabrication facility is expected to begin wafer output in mid-2027 and the Singapore HBM packaging facility is expected to start initial production in early 2027; the stock trades at a forward 12-month P/E of 4.65 versus a sector average of 17.09. Zacks Rank #1 (Strong Buy).

Impact and signal

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Source and time

Source: Yahoo Finance — TXN · 11/4/2026 · View original source