On Wednesday, Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, praised Micron Technology (NASDAQ:MU).

Gerber Flags Micron Technology Low Forward P/E

Taking to X, Gerber said, "I love that there is a very good chip company with insane growth ahead, trading at a 4 forward PE…. thank you. $MU."

Micron currently trades at a trailing price-to-earnings ratio of 19.96 and a forward P/E of 7.63, reflecting expectations of strong earnings growth ahead.

Shares of the company on Wednesday closed at $382.09.

The stock has delivered significant gains, rising 21.14%, year to date. Over the past 12 months, Micron has surged 314.73%.

Blowout Earnings Driven By AI Demand

Earlier this month, Micron reported second-quarter revenue of $23.86 billion, beating analyst estimates of $19.94 billion. Adjusted earnings came in at $12.20 per share, also topping expectations of $9.21.

Revenue surged roughly 196% year over year, fueled by strong demand for DRAM and NAND chips used in artificial intelligence, cloud computing and data centers.

Operating cash flow climbed to $11.9 billion, while adjusted free cash flow reached $6.9 billion, underscoring the company's improving profitability.

Analysts See About 40% Upside In Micron Technology

Micron has a consensus price target of $494.78 based on ratings from 29 analysts. The highest target of $700 was issued by Cantor Fitzgerald on March 19, 2026, while the lowest target of $249 came from Itaú BBA on Oct. 7, 2025.

The three latest analyst calls from JPMorgan Chase, Mizuho Financial Group and Bank of America Securities carry an average price target of $526.67, implying a potential upside of about 39.96% from current levels.

According to Benzinga Edge Stock Rankings, Micron shares continue to show strength across short, medium and long-term timeframes, with Momentum ranking in the 99th percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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