Micron Technology, Inc. (MU Quick QuoteMU - Free Report) is all set to release its fiscal fourth-quarter 2026 results after the market closes on Sept. 30. No doubt, investors will keep an eye on the report for crucial insights about the health of the memory market. 

However, the key question for investors now is whether Micron remains an attractive investment opportunity before its much-awaited earnings report. Let’s have a look – 

Micron’s Fiscal Fourth Quarter: What Investors Should Expect 

One thing that stands out is Micron’s exceptional revenue growth. Micron’s revenue jumped to $41.46 billion in the fiscal third quarter, up from $23.86 billion in the fiscal second quarter, according to the company’s June 24 press release. Management now expects revenues to climb further to $50 billion in the fiscal fourth quarter. This means that, despite a 73.7% sequential jump in the fiscal third quarter, Micron expects to maintain a substantial $8.5 billion increase in sales in the fiscal fourth quarter.

Revenue growth is expected to improve as demand for Micron’s cutting-edge high-bandwidth memory (“HBM”) chips, high-capacity server memory, and SOCAMM2 products remains strong, driven by hyperscalers continuing to ramp up artificial intelligence (AI) infrastructure spending. Strategic customer agreements and a favorable pricing environment are expected to drive continued sequential revenue growth into the fiscal fourth quarter.

Micron is not just forecasting higher revenues; it expects margins to improve further. For the fiscal fourth quarter, Micron expects GAAP gross margin to be approximately 86%, up from 84.6% in the fiscal third quarter, 74.4% in the fiscal second quarter, and 37.7% in the fiscal third quarter of 2025. Earnings per share (EPS) growth is also expected to remain strong, with Micron guiding for fiscal fourth-quarter GAAP EPS at $30.73, plus or minus $1, up from $24.67 reported in the fiscal third quarter.

Is Micron Stock a Buy, Hold, or Sell Ahead of Q4 Earnings?

Micron’s fiscal fourth-quarter outlook points to strong AI-driven demand for HBM and server memory, higher revenue, margins, and robust earnings growth, which could support further upside for the stock. Additionally, Micron has delivered an average earnings surprise of 21.1% over the past four quarters, raising the possibility of another strong performance in the fiscal fourth quarter, which may further catalyze the stock.

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Taken together, these factors should encourage stakeholders to maintain their existing positions. However, new investors should wait for the results and the stock’s subsequent reaction before making an investment decision. This is because Micron’s near-term growth trajectory is dependent on how the company’s guidance compares with market expectations.

Yes, some skeptics may argue that Micron is part of the highly cyclical memory market, exposing its shares to sharp declines if earnings fall short of expectations. But robust AI-driven memory demand, strong revenue growth, and improving profitability expectations suggest that investors shouldn’t sell the stock, as the long-term outlook under the able leadership of Sanjay Mehrotra remains strong (read more: Micron vs. NVIDIA: 1 AI Stock to Buy Now and 1 to Watch).

Micron currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.