Storage concept stocks surge broadly, Micron Technology (MU.US) rises over 6%

K-LinePoet

2026-03-22 12:21:06

Abstract generation in progress

On Monday, storage concept stocks generally rose. SanDisk (SNDK.US) increased by over 7%, Micron Technology (MU.US) and Seagate Technology (STX.US) rose by more than 6%, and Western Digital (WDC.US) gained over 4%.

Micron Technology will release its Q2 FY2026 earnings report after the U.S. stock market closes on Wednesday, March 18 (early morning of March 19 Beijing time). Wall Street analysts generally expect that driven by sustained strong demand for high-bandwidth memory (HBM), Micron’s revenue this quarter could surpass $19.1 billion, with an EPS close to $8.56. Before this earnings release, Seeking Alpha analyst Dair Sansyzbayev reaffirmed a “Strong Buy” rating for the company.

It is forecasted that Micron will maintain an impressive average year-over-year revenue growth rate of over 100% over the next four quarters. Meanwhile, analysts expect the average EPS growth rate over the next four quarters to reach as high as 332%, several times higher than the predicted revenue growth rate. Given Micron’s historically outstanding and exceeding expectations profitability, the company is fully capable of achieving these aggressive forecasts for the next four quarters.

Sansyzbayev believes that before Micron’s Q2 FY2026 earnings are announced, its stock price is severely undervalued. Based on Micron’s full-year EPS estimate of $35.38 and the industry median forward P/E ratio of 21.76, the target price is approximately $770. This target is significantly higher than the current stock price, which is just above $400.

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