Micron’s 3.5% Rebound: Why $1500 Targets Are Plausible (But Don’t Ignore This Momentum Red Flag)

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By: Oliver Hawthorne

Micron’s stock is in a tight spot. It’s up 750% in a year but trades at 48.2x earnings. That premium means any misstep in upcoming earnings could trigger a big drop. Wednesday’s 3.5% premarket rebound after a 6% Tuesday slide shows investors are split—optimistic about guidance but jittery about momentum.

Let’s lay out the facts. Micron reports fiscal Q3 earnings on June24,2026. Management guides for $33.5B revenue and $19+ EPS. Wall Street expects $19.63 EPS and $34.43B revenue. Three analysts (Deutsche Bank, TD Cowen, Cantor Fitzgerald) set $1500 price targets—47% upside from Tuesday’s close. At $1054.72, MU was among early trading’s top performers.

Micron Technology, Inc., MU

The stock trades 13.6% above its 20-day moving average and 169.7% above 200-day. A golden cross formed in June2025. But MACD is below signal line—buying momentum is softening. Resistance is at $1089.50, support at $854.50. Fed’s Warsh press conference Wednesday could add turbulence.

Here’s the end-game. Micron’s supply constraints for HBM, DRAM, NAND will persist past 2026. That keeps pricing power strong. But the high P/E ratio leaves no margin for error. If earnings beat, $1500 is within reach. If not, expect a sharp correction. The Fed’s rate move is a short-term blip—long-term, Micron’s memory chips are critical for AI, so demand won’t fade soon.

Author bio: Oliver Hawthorne, Principal Correspondent at an international tech review, covers semiconductor trends and market dynamics.