MU vs. AMD: Which ‘Strong Buy’ AI Chip Stock Is a Better Pick after the Recent Pullback?

Micron Technology (NASDAQ:MU) Stock

Micron Technology stock has declined by more than 13% in the past five trading sessions due to the reasons mentioned above. Shares have been volatile despite the company reporting stellar fiscal third-quarter results, which reflected continued momentum in demand and pricing amid supply constraints.

Mainly, Micron’s revenue jumped 346% year-over-year to $41.46 billion in Q3 FY26. Also, the company disclosed that it has signed 16 long-term agreements and expects $22 billion in financial commitments from them. In fact, when completed, Micron expects that 50% or more of its revenue will come from these strategic customer agreements (SCAs).

Is Micron Stock a Good Buy?

Recently, TD Cowen analyst Krish Sankar reiterated a Buy rating on Micron stock with a price target of $1,600. Following meetings with management, Sankar noted that demand remains strong amid supply constraints. Micron expects supply to remain tight beyond 2027. He added that the SCAs are designed to preserve bit share while increasing the mix of higher-value solutions over time.