J.P. Morgan maintained its “gain” rating and a target price of 1,540 US dollars before Micron released its earnings report on September 30. J.P. Morgan predicts that Micron's revenue, gross margin, and earnings per share for the August quarter will be higher than market expectations of $51.4 billion, 86.2%, and $31.73, and believes that the upward momentum in memory chip prices is still strong this quarter. J.P. Morgan Chase pointed out that what the company previously claimed was a slowdown in price increases, more to maintain customer relationships and lock in long-term supply and capacity agreements, rather than weakening demand; currently, the industry's supply and demand gap is expected to continue until 2027 and 2028, supporting prices. The agency also expects that Micron will raise its November quarterly guidelines for reasons including increased customer demand signals, the company's judgment that supply and demand in 2027 will be more tight than 2026, and continued HBM4 sales; as of the May quarter, Micron's HBM4 shipments have exceeded 1 billion US dollars.

J.P. Morgan maintained its “gain” rating and a target price of 1,540 US dollars before Micron released its earnings report on September 30. J.P. Morgan predicts that Micron's revenue, gross margin, and earnings per share for the August quarter will be higher than market expectations of $51.4 billion, 86.2%, and $31.73, and believes that the upward momentum in memory chip prices is still strong this quarter. J.P. Morgan Chase pointed out that what the company previously claimed was a slowdown in price increases, more to maintain customer relationships and lock in long-term supply and capacity agreements, rather than weakening demand; currently, the industry's supply and demand gap is expected to continue until 2027 and 2028, supporting prices. The agency also expects that Micron will raise its November quarterly guidelines for reasons including increased customer demand signals, the company's judgment that supply and demand in 2027 will be more tight than 2026, and continued HBM4 sales; as of the May quarter, Micron's HBM4 shipments have exceeded 1 billion US dollars.