US Stock Movement | Storage Concept Stocks Rise Broadly; Micron Technology (MU.US) Up Over 6%

Bloomberg Finance APP reports that on Monday, storage concept stocks rose across the board, with SanDisk (SNDK.US) up over 7%, Micron Technology (MU.US) and Seagate Technology (STX.US) up more than 6%, and Western Digital (WDC.US) up over 4%.

Micron Technology will release its Q2 FY2026 earnings report after the U.S. stock market closes on Wednesday, March 18 (Eastern Time), which is the morning of March 19 in Beijing. Wall Street analysts generally expect that driven by strong demand for high-bandwidth memory (HBM), Micron’s revenue this quarter could surpass $19.1 billion, with an EPS close to $8.56. Before this earnings release, Seeking Alpha financial analyst Dair Sansyzbayev reaffirmed a “Strong Buy” rating on the company.

It is forecasted that Micron will maintain an impressive average year-over-year revenue growth rate of over 100% over the next four quarters. Meanwhile, Wall Street analysts expect the average EPS growth rate over the next four quarters to reach as high as 332%, several times higher than the predicted revenue growth rate. Given Micron’s historically outstanding and exceeding expectations profitability, the company is fully capable of achieving these aggressive forecasts for the next four quarters.

Sansyzbayev believes that before Micron’s FY2026 Q2 earnings are announced, its stock price is severely undervalued. Based on Micron’s full-year EPS estimate of $35.38 and the industry median forward P/E ratio of 21.76, the target price is approximately $770. This target price is significantly higher than the current stock price, which is just over $400.