What is the fair value of MU?

Based on inv-AI’s institutional-grade analysis, the 12-month fair value estimate for Micron Technology, Inc. (MU) is $300 (range: $210–$360). Confidence level: MEDIUM.

Is MU overvalued or undervalued?

Micron Technology, Inc. (MU) is rated Strong Overpriced — SELL by inv-AI. The current price is $462 versus a mid fair value of $300, implying -35.1% upside.

What is the MU price target for 2026?

inv-AI’s 2026 fair value range for Micron Technology, Inc. (MU) is $210 (bear) to $360 (bull), with a base case of $300.

Micron Technology, Inc. (MU) Valuation

Rating: Strong Overpriced — SELL

12-Month Fair Value: $210 – $300 – $360

Confidence: MEDIUM

Textbook cyclical peak. Best quarter in company history ($23.86B rev, $12.20 EPS, 74.4% GM) and the stock fell 4.7% AH — the marginal buyer is gone. You sell cyclical commodity producers at 5x peak earnings, not 8x. Normalized mid-cycle EPS of $29 at 10.5x = $300 fair value. At $462, the stock is 54% above normalized fair value. 5-year SCAs are contracts written in pencil — hyperscalers renegotiate when demand cools. $25B+ CapEx with SK Hynix scaling 8-9x and Samsung expanding 50% = capital cycle supply response in motion. Every prior memory supercycle ended with 50%+ drawdowns. Structure asymmetric short via put spreads (Mar/Jun 2027) targeting $250-300.

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