Micron Earnings: Can MU Stock Clear a High Bar?

Micron reports fiscal fourth-quarter earnings on Wednesday, September 30, after the market close. Wall Street expects EPS of about $31.52, up from $3.03 a year earlier, on revenue near $50.6 billion, roughly matching Micron's June guidance of $50B ±$1B revenue, $31 ±$1 adjusted EPS, and about 86% gross margin. The average price target is $1,563.93, per TipRanks. The stock closed at $1,082.28 Friday, up 16% over the past month but 14% below its 52-week high of $1,255. Wells Fargo cut its target to $1,400 from $1,525 while keeping an Overweight rating.