Micron Technology (NASDAQ:MU) closed at $833.59, near a three-month low and 31.3% below its record close, while the consensus analyst price target is $1,562. The stock fell after Kioxia guided December-quarter operating profit of 2 trillion yen, roughly flat from 1.99 trillion yen and below expectations, though Kioxia said next year's planned output is already sold out. Micron trades under 5 times forward earnings, but that figure relies on a consensus fiscal 2027 estimate of $176.50 per share, and the article says the outcome depends on how long memory stays scarce. The board raised its buyback authorization to $35.16 billion, available from December 9, 2026, while Micron repurchased only $650 million of stock in fiscal 2026; the article notes the program is permission, not an obligation. Over the past 30 days, 28 analysts raised fiscal 2027 EPS estimates and 2 cut them, even as the stock remains up 192.3% this year.
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