Goldman Sachs published a research report stating that Micron recorded strong quarterly results and guidance, signed new customer agreements and raised capital expenditure to support increased supply. The bank raised its price target from $1,100 to $1,250, maintaining a “neutral” rating. Similar to its peers, Micron continues to see that the tight supply and demand situation for DRAM and NAND will continue until 2027 and 2028. The company has signed 10 more long-term agreements, which together account for about 35% of expected revenue to FY2030, of which about 75% include a structured pricing framework. The bank continues to believe that these agreements are positive for stock prices and help increase the valuation multiples investors are willing to pay for peak profits. At the same time, the industry continues to accelerate supply growth to meet customer demand, and the bank believes that meaningful market easing will occur as early as 2028.

Goldman Sachs published a research report stating that Micron recorded strong quarterly results and guidance, signed new customer agreements and raised capital expenditure to support increased supply. The bank raised its price target from $1,100 to $1,250, maintaining a “neutral” rating. Similar to its peers, Micron continues to see that the tight supply and demand situation for DRAM and NAND will continue until 2027 and 2028. The company has signed 10 more long-term agreements, which together account for about 35% of expected revenue to FY2030, of which about 75% include a structured pricing framework. The bank continues to believe that these agreements are positive for stock prices and help increase the valuation multiples investors are willing to pay for peak profits. At the same time, the industry continues to accelerate supply growth to meet customer demand, and the bank believes that meaningful market easing will occur as early as 2028.