Micron Price Target Analysis

Hello fellow regards, I posted my price target analysis shortly after Microns last earnings. Now I am here with updated targets based on the latest earnings and updated projections. [Price Target Analysis for Micron $MU : r/MU\_Stock](https://www.reddit.com/r/MU_Stock/comments/1t5ivdy/price_target_analysis_for_micron_mu/) Micron just dropped their Q3 earnings and blew past expectations once again. Here is how EPS has been tracking the last two quarters and what they expect for next quarter: * **Actual Q2 2026 EPS:** $12.20 * **Actual Q3 2026 EPS (Just Reported):** **$25.00** * **Projected Q4 2026 EPS (Official Guidance):** **$31.00** If we extend this current run-rate over the next four quarters, we get an annualized **$100 EPS.** This is practically the baseline consensus for 2027 (Wall Street is already modeling up to \~$120 ($30 per quarter) Annual EPS for FY2027). With \~1.1 billion shares outstanding, a $100 EPS means Micron is expected to generate **$110 Billion in Net Income** over the next four quarters. Look at how Micron's valuation stacks up against Big Tech (based on projected P/Es). Even though Micron crossed a $1 Trillion market cap this year, its multiplier is still low compared to its peers: |Company|Market Cap (Current)|Proj. Net Income (Next 12M)|Forward P/E| |:-|:-|:-|:-| |Nvidia (NVDA)|$4.85 Trillion|$216.2 Billion|22.4x| |Apple (AAPL)|$4.36 Trillion|$129.0 Billion|33.8x| |Alphabet (GOOGL)|$4.20 Trillion|$173.8 Billion|24.2x| |Microsoft (MSFT)|$2.73 Trillion|$124.9 Billion|21.9x| |Meta (META)|$1.43 Trillion|$84.7 Billion|16.9x| |Micron (MU) Thesis Target|$1.21 Trillion|$110.0 Billion|11.0x| |Forward P/E Multiple|Implied Share Price|Market Cap Equivalent| |:-|:-|:-| |11x (Current)|\~$1,100|$1.21 Trillion| |15x|$1,500|\~$1.65 Trillion| |20x|$2,000|\~$2.20 Trillion| |30x (Big Tech Multiple)|$3,000|\~$3.30 Trillion| **The bottom line**: Micron is printing cash at a run-rate that punches right alongside Apple and Microsoft, but you can still buy it at a 50–65% valuation discount relative to its actual earnings power. If Micron pulls off even a fraction of that structural shift, its current market cap represents one of the most asymmetric risk-to-reward profiles in tech history. I think we will $1500-$1800 in the next 3 months until next earnings. This is not financial advice. I am long $MU and $DRAM.