Micron was upgraded to Buy on improved HBM pricing after a 10% stock dip, with 20% upside potential.

Micron (MU) has been upgraded from Hold to Buy on the back of improved pricing for high-bandwidth memory (HBM) and a recent 10% drop in its stock price. The analyst expects HBM margin dilution to narrow by 2027 thanks to higher contracted prices, although the exact impact on gross margins remains uncertain.

A custom HBM4E development with Nvidia presents strategic growth opportunities, though details on margin benefits and exclusivity are not yet clear. The stock is valued at under 6 times projected 2027 earnings, offering about 20% upside. Risks remain, however, from DRAM price volatility, capital expenditures, and manufacturing complexities.

Micron (MU) trades at USD 943.00 on Pluang as of October 13, 2026, 19:44 WIB, down 4.66% for the day and well below its 52-week high of USD 1.21K, yet far above its 52-week low of USD 187.06. Despite recent price drops, Pluang data shows a majority of buyers at 57%, indicating ongoing interest. The stock's market cap stands at $1.12T, reflecting its significant presence in the technology sector amid the current market environment.