TLDR
- Micron stock is up nearly 2% in Thursday premarket trading, rising to $942.06.
- The company’s $2.75 billion semiconductor assembly and test facility in Sanand, Gujarat, India has begun commercial production.
- Micron is now shipping DRAM and NAND products from India to customers worldwide, including Dell Technologies for laptops made in India.
- Q4 FY26 earnings are due September 30, with Wall Street expecting EPS of around $31 and revenue near $50.78 billion.
- Analysts hold a Strong Buy consensus on MU with an average price target of around $1,521, implying roughly 69% upside from current levels.
Micron Technology (MU) stock climbed nearly 2% in Thursday premarket trading to $942.06, lifted by news out of India and a broader improvement in risk appetite. Nasdaq futures were up 1.05% and S&P 500 futures gained 0.82%, giving tech stocks a tailwind.
The move comes after Micron officially opened its $2.75 billion semiconductor assembly and test facility in Sanand, Gujarat. The plant has started commercial production and is now shipping finished DRAM and NAND memory products to customers around the world.
CEO Sanjay Mehrotra said the Sanand facility already has capacity that exceeds the memory needs of India’s entire laptop market. Micron has also shipped its first made-in-India memory modules to Dell Technologies for laptops manufactured in India.
The facility does not produce wafers. Instead, it takes advanced DRAM and NAND wafers from Micron’s global manufacturing network and assembles them into finished memory and storage products. The first phase will include more than 500,000 square feet of cleanroom space once fully ramped.
Micron plans to assemble and test tens of millions of chips at the site this year. That figure is expected to climb to hundreds of millions in 2027.
New Memory Module Targets AI Demand
Micron’s India expansion ties into its broader AI memory push. On September 15, the company demonstrated a 512GB DDR5 RDIMM capable of reaching speeds up to 9,200 MT/s. Advanced Micro Devices and Intel are currently validating the module. Micron expects volume production to begin in the second half of 2027.
Mehrotra described the demand shift clearly: “The world is going to need memory that is faster, denser, and far more efficient at power. And Micron builds that memory.”
Micron employs more than 7,000 people directly in India. Its teams in Bangalore and Hyderabad have contributed to more than 3,700 patents, inventions and disclosures.
Earnings on September 30
The next major event for MU is its Q4 FY26 earnings report on September 30. Analysts expect EPS of around $31.30, up from $3.03 in the same quarter last year. Revenue is projected at $50.78 billion, compared to $11.31 billion a year ago.
Goldman Sachs analyst James Schneider maintained a Hold rating and a $1,100 price target. He expects revenue of $51.9 billion for the quarter, about 3% above the Street estimate, along with EPS of $32.54 and an 87.3% gross margin.
For Q1 FY27, Schneider expects low-teens quarter-over-quarter revenue growth, driven by product mix and higher pricing.
Technically, MU is 48.8% above its 200-day moving average of $632.56. The stock faces resistance near $1,012, with support around $887.50. The RSI sits at 46.88, pointing to neutral near-term momentum.
Wall Street holds a Strong Buy consensus on MU, with 29 Buy ratings and just one Hold. The average price target of around $1,521 implies roughly 69% upside. MU stock has rallied 225% year-to-date.
Mizuho maintained an Outperform rating in August with a $1,300 target. New Street Research upgraded to Buy with a $1,250 target. Citigroup kept its Buy rating with a $1,150 forecast.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
