Micron closed at $914.13 on October 14, about 25% below its June 25 closing record of $1,213.56 and its lowest close since August 24. The company beat its June guidance, reporting $54.2 billion in fiscal fourth-quarter revenue and $33.42 in adjusted EPS, and forecasts around $61.5 billion in revenue for fiscal first quarter 2027. However, DRAM price increases have slowed, Micron is raising capital spending on new cleanroom space, and Chinese rival CXMT plans a new server memory generation by the end of 2026. The author attributes the decline more to worries about memory prices than to Micron's results, noting the stock trades around 12 times fiscal 2026 earnings. The author says he is inclined to buy and hold for the long term, while acknowledging the stock could keep dropping for a while.
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