William Blair Reiterates Outperform on Micron

William Blair analyst Sebastien Naji reiterated an Outperform rating on Micron Technology (NASDAQ: MU).

“Stock Thoughts: Shares of MU are roughly flat in the after-hours market as investors balance a moderating size of beats and softer gross margin guidance, with strong underlying AI demand, improving visibility with SCAs, and sustained pricing power as memory supply is slow to catch up.

At these levels, the stock trades at a price-to-earnings multiple of 5.5 times on our updated calendar 2027 estimates.

We continue to see a favorable risk/reward for shares, and look for a more significant share repurchase opportunity after CHIPS Act restrictions are lifted on December 9 as a potential catalyst for the stock.

We maintain our Outperform rating.”

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