Bernstein: Memory shortage will last until 2028, gives Micron (MU.US) a target price of $1,300

Zhito Finance APP has learned that the leading player in the memory price increase cycle has delivered a report card of "revenue far exceeding expectations, profit margin slightly below." On October 1, Bernstein analyst Mark Li's team released a quick review of Micron's (MU.US) fourth-quarter fiscal 2026 results (ended August 2026), maintaining an "Outperform" rating and a $1,300 price target. The core judgment of this quick review is that Micron has become more optimistic about the cycle and expects supply in calendar years 2027 and 2028 to be "much tighter" than in 2026, and that although capacity is increasing, the company currently sees no end to the shortage because customers keep raising new demand.