Micron Stock Is Up 385% in One Year. Buy Now or Wait for a Pullback?

Key Takeaways

• Micron stock has returned 385% over the past year to close at $931 on October 15, 2026, but it trades ~26% below the $1,255 all-time high it set on June 25.

• On Sept 30, Q4 adjusted EPS of $33.42 topped the $31.60 IBES estimate.

• Analysts hold 36 Buys, 9 Outperforms, 3 Holds, 1 Underperform, and 1 No Opinion, and the $1,561 mean target sits 67% above the close.

• Management guided FQ1 revenue to a record $61.5B ± $1.5B and plans to increase capital return from Dec 9.

Micron Stock Is Up 385% in a Year but 26% Below Its June Peak

Micron Technology (MU:NASDAQ) closed at $931 on October 15, 2026, up 385% over one year and 15 days after the company reported record fiscal fourth-quarter revenue of $54.2 billion. Micron stock still sits about 26% below its June 25 all-time high of $1,255.

MU stock closed at $230 on November 27, 2025. Micron reported fiscal first-quarter adjusted EPS of $4.78 on December 17, against a $3.06 estimate, and the stock reached $416 by February 26. A second beat came on March 18, with adjusted EPS of $12.20 against $9.21. The shares slid into the low $300s late that month, then climbed to $924 by May 28.

Fiscal third-quarter adjusted EPS of $25.11 landed on June 24, above a $20.60 estimate, and the stock hit its $1,255 high the next day. Reuters reported a drop of more than 40% from that peak before the shares turned higher in August. By September 3, they closed at $958.

CEO Sanjay Mehrotra addressed on the September 30 earnings call that Micron expects fiscal 2027 “to be even better” than fiscal 2026, a year with $133.2 billion in revenue. CFO Mark Murphy then guided fiscal first-quarter revenue to a record $61.5 billion, plus or minus $1.5 billion.

Chip stocks have declined every session since October 7. Micron traded 5% lower during the October 13 session, a move Reuters tied to reports that China’s CXMT made progress on a denser DRAM design. The Philadelphia Semiconductor Index fell 4.3% on October 14 after September consumer prices rose 3.7% from a year earlier, above the 3.6% economists expected.

Lined up in order, the year’s checkpoints read $230, $416, $924, $958, and $931, with the $1,255 June peak sitting between the third and fourth.

Micron Stock’s Mean Target Rose Twice as Fast as Its Price

Forty-six analysts publish price targets on Micron stock, and their mean of $1,561 sits 67% above the October 15 close. That mean stood at $221 on November 27, 2025, so it has climbed 608% while the stock gained 304% between the same dates.

The ratings show 36 Buys, 9 Outperforms, 3 Holds, 1 Underperform, and 1 No Opinion, with the Sells row empty after showing 2 in February. The lowest target, $361, sits 61% below the close.