Micron Technology shares fell ahead of its fiscal 2026 fourth-quarter results as analysts maintained bullish views on AI-driven memory demand, constrained DRAM and NAND supply, pricing, margins and capital returns. UBS analyst Timothy Arcuri raised his Buy-rated target to $1,625 and estimates Micron can meet roughly 60% of 2027 DRAM demand, while Citi lifted its target to $1,300 and Bank of America maintained a $1,550 forecast. Wall Street expects about $51.05 billion in revenue and $31.45 in earnings per share, compared with $11.31 billion and $3.03 a year earlier. Micron's own June outlook called for fourth-quarter revenue of $50 billion, plus or minus $1 billion, and adjusted EPS of $31, plus or minus $1. Joseph DeYonker, founder and CEO of PurePlay ETFs, said investors will focus particularly on high-bandwidth memory guidance and possible new long-term agreements with hyperscalers, which he views as evidence that AI data-center demand is structurally different from past consumer-led memory cycles. Investors are also weighing Chinese competition, Micron's U.S. capacity expansion, bearish positioning and potential buybacks after government-funding restrictions expire.