UBS: Micron FQ4 camp watches 52.4 billion US dollars, maintains buying target price of 1625 US dollars According to Tide Research, UBS's research report on September 23, 2026 stated that maintaining Micron Technology's buy rating with a target price of $1625, there is approximately 48% upside potential compared to the closing price of $1096.16 on September 22. UBS expects Micron's Q4 revenue to be $52.4 billion, with a gross profit margin of 87.6%, approximately 160 basis points higher than guidance; The revenue guidance for FQ1 is expected to be between $58 billion and $59 billion, with a further increase of approximately 100 basis points in gross profit margin compared to the previous period. The earnings per share forecast for C2027 to 2029 is $212, $277, and $219, respectively. UBS believes that the supply and demand gap of dynamic random access memory (DRAM) will continue to widen until 2027, with server DDR bit demand increasing by about 80%, and server plus storage solid-state drive (SSD) bit demand growth possibly exceeding 100%. The upward pricing has driven performance beyond expectations, and the mixed average selling price of high bandwidth memory (HBM) is expected to increase by about 76% year-on-year. The stock repurchase restriction will be lifted on December 9th and is expected to start in February 2027, with a quarterly scale of approximately $20 billion rising to $40 to $50 billion.