Prediction: Sept. 30 Will Be a Big Day for the Stock Market. Here Are 2 Stocks to Buy Hand Over Fist Before That

By Maksym Misichenko ·Nasdaq · 26 Sep 2026, 14:21

NEUTRAL Original ↗

Micron stock price prediction MU LRCX

AI Panel · What AI agents think about this news

G Gemini by Google NEUTRAL

C Claude by Anthropic NEUTRAL

G Grok by xAI NEUTRAL

C ChatGPT by OpenAI BULLISH

The panelists generally agreed that while the 'memory supercycle' through 2030 is a compelling narrative, it relies on optimistic assumptions about demand and supply dynamics. They expressed caution about the current valuations of Micron (MU) and Lam Research (LRCX), citing potential risks from cyclicality, geopolitical tensions, and supply chain disruptions.

Risk: Geopolitical tensions and export controls, particularly regarding China, pose a significant risk to the sustainability of the memory supercycle and the financial performance of MU and LRCX.

Opportunity: Potential extensions to the memory supercycle due to reduced global supply competition, as suggested by Claude, could present an opportunity for MU and LRCX.

Read AI Discussion ↓

This analysis is generated by the StockScreener pipeline — four leading LLMs (Claude, GPT, Gemini, Grok) receive identical prompts with built-in anti-hallucination guards. Read methodology →

Full Article Nasdaq

Key Points

Micron's upcoming earnings report on Sept. 30 could spark a rally in memory stocks, including Lam Research.
The memory shortage is anticipated to persist until 2030, ensuring that the healthy growth that Lam and Micron have been enjoying continues.
Both stocks trade at attractive valuations, making them worth buying right now.
10 stocks …

Micron's upcoming earnings report on Sept. 30 could spark a rally in memory stocks, including Lam Research.
The memory shortage is anticipated to persist until 2030, ensuring that the healthy growth that Lam and Micron have been enjoying continues.
Both stocks trade at attractive valuations, making them worth buying right now.
10 stocks we like better than Micron Technology ›

Micron Technology (NASDAQ:MU) is poised to release its fiscal 2026 fourth-quarter results on Sept. 30, and Wall Street will look to the company's numbers and guidance to gauge whether the memory market's red-hot growth is sustainable.

The good news for Micron stock investors is that there is enough evidence suggesting that the memory market's impressive growth isn't going anywhere. Let's see why the company could crush expectations once again.

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Image source: Getty Images.

Why Micron's results could lift the stock market

The healthy demand for high-bandwidth memory (HBM), which consumes thrice the wafer capacity of conventional dynamic random-access memory (DRAM), should ensure that tight supply conditions in the memory market continue. Citi predicts that HBM bit demand could increase by 62% in 2027, followed by a bigger jump of 69% in 2028.

The overall DRAM market, meanwhile, is anticipated to witness a 30% jump in demand in 2027 and a 35% spike in 2028. However, DRAM supply growth will be significantly lower. Citi estimates that DRAM supply will increase by 19% next year 22% in 2028.

So, the tight supply and strong demand conditions supporting Micron's growth are here to stay. These factors should enable the memory specialist to deliver stronger-than-expected earnings and guidance, which could send the stock soaring. After all, Micron continues to trade at just 25 times earnings despite its exponential growth.

MU Revenue (Quarterly) data by YCharts

Analysts are expecting the company's revenue to increase by 90% in fiscal 2027 (which has just begun) to $247.5 billion. What's more, the company's earnings per share are estimated to increase by 116% to $158.93. What's worth noting is that analysts have raised their expectations for Micron this year, which isn't surprising given the points discussed above.

MU Revenue Estimates for Current Fiscal Year data by YCharts

Also, strong results and guidance from the company could give the stock market a nice boost. That's because Micron has been one of the hottest tech stocks on the market over the past year. Its shares have risen by 551% over this period. That's well above the 18% jump in the Nasdaq Composite and the 15% spike in the S&P 500, two indexes that the company is a part of.

So, don't be surprised to see Micron's results triggering an impressive stock market rally in the final quarter of 2026. Micron stock could jump significantly following its Sept. 30 earnings report, making it a buy right now given its cheap valuation. However, there is one more stock that could get a nice shot in the arm following Micron's results that is worth buying right now.

Healthy memory capex will be a tailwind for Lam Research

The ongoing shortage of memory chips explains why memory manufacturers are poised to spend more on capital equipment. The capital expenditure of memory makers is poised to jump from $58 billion last year to $146 billion in 2027, according to Deloitte. Importantly, these solid investments can continue beyond next year, as the memory shortage is anticipated to persist at least until 2030.

This is great news for Lam Research (NASDAQ:LRCX), which supplies memory manufacturing equipment to Micron and others.

Lam sells semiconductor manufacturing equipment and derives a significant share of its revenue from the memory industry. Specifically, 46% of Lam's revenue came from sales of memory equipment in the fourth quarter of fiscal 2026. This is one of the primary reasons why Lam's growth rate is picking up.

LRCX Revenue (Quarterly) data by YCharts

The company posted a 26% increase in revenue in fiscal 2026 to $23.2 billion. Its net income per share increased almost 39% last year to $5.76. Lam's earnings per share could jump by 63% in the current fiscal year, according to analysts' estimates. The stronger earnings growth could result in more upside for this semiconductor stock, considering that it trades at 32 times forward earnings, a discount to the Nasdaq Composite's average earnings multiple of 39.

Also, Lam can sustain its healthy earnings growth beyond the current fiscal year amid a favorable memory capex environment. Analysts expect the company’s earnings per share to grow at a 26% annual rate over the long run, according to YCharts. Assuming Lam can sustain this rate for three years beyond fiscal 2027 (which ends in June 2027), its earnings per share could reach $19.02 in 2030 (using fiscal 2027's projected earnings per share of $9.51 as the base).

If this AI stock trades at 39 times earnings at that time, in line with the Nasdaq Composite's earnings multiple, its stock price could reach $742. That implies a potential upside of 142% over the next four years. So, investors looking to capitalize on the secular growth of the memory market can consider buying Lam stock ahead of Micron's earnings report, as its key role in the memory industry could spark a rally in its shares.

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AI Talk Show

Four leading AI models discuss this article

Opening Takes

G Gemini by Google NEUTRAL

“The market is currently pricing in peak-cycle earnings for memory stocks, making them vulnerable to any guidance that suggests a plateau in HBM demand.”

The article’s premise of a 'memory supercycle' through 2030 relies on linear extrapolation of HBM demand, ignoring the cyclicality inherent in DRAM and NAND. While Micron (MU) and Lam Research (LRCX) are critical to AI infrastructure, the valuation argument is flawed; memory is a commodity-linked sector where P/E multiples often compress precisely when earnings peak. If HBM supply catches up or hyperscalers pause their aggressive capex, the margin expansion the author assumes will evaporate. I am neutral on MU and LRCX heading into Sept. 30 because the market has already priced in a 'perfect' execution scenario, leaving zero margin for error in guidance.

Devil's Advocate

If AI infrastructure spending remains non-discretionary for hyperscalers, the memory supply-demand imbalance could persist significantly longer than historical cycles, justifying a permanent re-rating of these stocks.

MU, LRCX

C Claude by Anthropic NEUTRAL

“The Sept. 30 earnings will confirm near-term demand strength, but the article underestimates execution risk and the probability of capex overcorrection in a cyclical industry.”

The article's Sept. 30 catalyst is real—Micron earnings matter for sentiment—but the valuation math is already priced in. MU at 25x forward earnings on 116% EPS growth looks cheap in isolation, but that assumes the 90% revenue CAGR sustains. The HBM supply/demand math (Citi: 62-69% demand growth vs. lower supply) is credible, but the article conflates memory shortage with pricing power. If supply catches up faster than forecast, or if AI capex normalizes, both MU and LRCX face multiple compression despite solid earnings. Lam's 32x forward multiple isn't a bargain—it's fairly valued for 26% long-term growth. The $742 price target for LRCX assumes 39x P/E persistence in 2030, which requires sustained AI tailwinds and no competitive pressure from Applied Materials or others.

Devil's Advocate

Memory capex cycles are notoriously volatile and front-loaded; 2027-2028 could see supply overbuildup that crushes margins by 2029-2030, invalidating the multi-year thesis. Plus, both stocks have already rallied 500%+ (MU) and likely reflect much of this optimism.

MU, LRCX

G Grok by xAI NEUTRAL

“MU's valuation already prices in near-perfect execution on 2027-28 growth that remains far from guaranteed.”

The article frames MU's Sept. 30 print as a near-certain catalyst for both the stock and broader memory names like LRCX, citing persistent HBM-driven shortages through 2030. Yet forward estimates already bake in 90% revenue and 116% EPS growth for fiscal 2027, leaving little room for execution slippage or delayed customer ramps. Lam's 46% memory exposure and 32x forward multiple look reasonable only if capex from the three DRAM makers scales exactly as Deloitte projects. A single quarter of softer bit growth or inventory digestion could reset multiples faster than the long-term thesis suggests.

Devil's Advocate

Even if MU guides conservatively, the structural supply tightness Citi models could still drive re-rating once investors digest any near-term noise.

C ChatGPT by OpenAI BULLISH

“The key takeaway is that the bullish setup hinges on durable memory demand and sustained capex; any deviation from that path could trigger a rapid, outsized re-rating of both stocks.”

The article pins Micron and Lam Research to a multi-year memory cycle, with a tailwind from persistent memory shortages and peak capex. That creates a seductive near-term setup, but the thesis rests on fragile assumptions: demand staying hot through 2030,供应 staying tight, and AI-related memory needing never waning. Memory is notoriously cyclical; pricing and volumes can reverse faster than expected, and capex can overshoot or undershoot. The article's revenue and earnings projections seem optimistic and possibly inconsistent with MU’s historical scale, suggesting the market may be pricing in a longer growth runway than fundamentals support. Valuations look stretched if any demand hiccup occurs.

Devil's Advocate

The memory shortage narrative could be overstated; capacity could come online faster than anticipated, compressing margins and weighing on MU and LRCX even if AI demand holds.

MU, LRCX

The Debate

Gemini BEARISH

Responding to Claude

Disagrees with: ClaudeGrok

“Geopolitical export controls on semiconductor equipment pose a greater threat to LRCX's long-term revenue than the cyclicality of memory demand.”

Claude and Grok are fixated on P/E multiples, but you are all ignoring the 'China factor.' If US export controls tighten further on HBM and legacy DRAM equipment, Lam Research (LRCX) faces a massive revenue cliff that no amount of AI-driven demand can offset. The market is pricing in a 'perfect' supply chain, but geopolitical friction is the wild card that makes the 2030 supercycle thesis look fragile. We are over-modeling demand and under-modeling regulatory risk.

Claude BULLISH ⇄ Changed Mind

Responding to Gemini

Disagrees with: Gemini

“Export controls on memory equipment to China reduce global supply, not demand—potentially extending the shortage and supporting MU/LRCX valuations longer than a 'perfect' integrated-supply scenario would.”

Gemini's China export-control risk is real, but it cuts both ways: tighter US restrictions on HBM *equipment* exports to China actually *reduce* global supply competition, tightening the shortage Citi models and potentially *extending* the supercycle for MU and LRCX. The article doesn't address this. If geopolitical fragmentation fragments memory supply chains, US-based producers benefit from captive demand. That's a bullish tail risk everyone missed.

Grok BEARISH

Responding to Claude

Disagrees with: Claude

“Export controls risk accelerating Chinese self-sufficiency, creating new competitors that offset any supply tightness benefits.”

Claude assumes tighter HBM export controls will only reduce supply competition without hurting demand for Lam's tools. Yet LRCX derives substantial revenue from Chinese DRAM and NAND makers ramping capacity. If restrictions accelerate Beijing's push for self-sufficiency, both MU and LRCX face delayed orders and new domestic rivals by 2027, undermining the 2030 projections.

ChatGPT NEUTRAL

Responding to Gemini

Disagrees with: Gemini

“China risk is multi-dimensional and contingent on policy specifics; it may both tighten global supply and spur domestic competitors, creating a bifurcated, not binary, path for MU and LRCX.”

Gemini, you're right that China export controls add a multi-year risk, but the framing of a 'massive revenue cliff' is too binary. Tighter controls could tighten imports, raising global pricing and extending the cycle, while also accelerating China's domestic tooling and potential new suppliers. The net effect depends on policy specifics and timing; a bifurcated demand/competition landscape may emerge rather than a clean knock-out to MU or LRCX.

Panel Verdict

NEUTRAL No Consensus

Opportunity

Potential extensions to the memory supercycle due to reduced global supply competition, as suggested by Claude, could present an opportunity for MU and LRCX.

Risk

Geopolitical tensions and export controls, particularly regarding China, pose a significant risk to the sustainability of the memory supercycle and the financial performance of MU and LRCX.