diff --git a/src/js_parser/fold.rs b/src/js_parser/fold.rs
index 911e1e76de30..58e22a1dc902 100644
--- a/src/js_parser/fold.rs
+++ b/src/js_parser/fold.rs
@@ -678,7 +678,9 @@ impl<'a, const TYPESCRIPT: bool, const SCAN_ONLY: bool> P<'a, TYPESCRIPT, SCAN_O
                         }
                         if name == b"accept" {
                             if !enabled {
-                                p.method_call_must_be_replaced_with_undefined = true;
+                                if identifier_opts.is_call_target() {
+                                    p.method_call_must_be_replaced_with_undefined = true;
+                                }
                                 return Some(Expr {
                                     data: js_ast::ExprData::EUndefined(E::Undefined),
                                     loc,
@@ -712,7 +714,9 @@ impl<'a, const TYPESCRIPT: bool, const SCAN_ONLY: bool> P<'a, TYPESCRIPT, SCAN_O
                                     loc,
                                 ));
                             } else {
-                                p.method_call_must_be_replaced_with_undefined = true;
+                                if identifier_opts.is_call_target() {
+                                    p.method_call_must_be_replaced_with_undefined = true;
+                                }
                                 return Some(Expr {
                                     data: js_ast::ExprData::EUndefined(E::Undefined),
                                     loc,
diff --git a/test/bundler/bundler_minify.test.ts b/test/bundler/bundler_minify.test.ts
index f6220592d6d9..cbc6544fb9ef 100644
--- a/test/bundler/bundler_minify.test.ts
+++ b/test/bundler/bundler_minify.test.ts
@@ -667,6 +667,61 @@ describe("bundler", () => {
       api.expectFile("/out.js").not.toContain("import.meta.hot");
     },
   });
+  // Reading an `import.meta.hot` method without calling it must not cause the
+  // next unrelated call expression to be dropped from the output.
+  itBundled("minify/ImportMetaHotReadWithoutCall", {
+    files: {
+      "/entry.ts": `
+        globalThis.sink = import.meta.hot.accept;
+        console.log("after-accept");
+        globalThis.sink = import.meta.hot.dispose;
+        console.log("after-dispose");
+        globalThis.sink = [
+          import.meta.hot.decline,
+          import.meta.hot.prune,
+          import.meta.hot.invalidate,
+          import.meta.hot.on,
+          import.meta.hot.off,
+          import.meta.hot.send,
+        ];
+        console.log("after-array");
+        // Direct calls are still stripped.
+        import.meta.hot.accept(() => console.log("FAIL-accept-call"));
+        import.meta.hot.dispose(() => console.log("FAIL-dispose-call"));
+        console.log("after-calls");
+      `,
+    },
+    outfile: "/out.js",
+    run: {
+      stdout: "after-accept\nafter-dispose\nafter-array\nafter-calls",
+    },
+    onAfterBundle(api) {
+      const out = api.readFile("/out.js");
+      expect(out).toContain("after-accept");
+      expect(out).toContain("after-dispose");
+      expect(out).toContain("after-array");
+      expect(out).toContain("after-calls");
+      expect(out).not.toContain("FAIL");
+      expect(out).not.toContain("import.meta.hot");
+    },
+  });
+  itBundled("minify/ImportMetaHotReadWithoutCallNoBundle", {
+    files: {
+      "/entry.ts": `
+        globalThis.sink = import.meta.hot.accept;
+        console.log("after-accept");
+        globalThis.sink = import.meta.hot.dispose;
+        console.log("after-dispose");
+      `,
+    },
+    bundling: false,
+    outfile: "/out.js",
+    onAfterBundle(api) {
+      const out = api.readFile("/out.js");
+      expect(out).toContain("after-accept");
+      expect(out).toContain("after-dispose");
+    },
+  });
   itBundled("minify/ProductionMode", {
     files: {
       "/entry.jsx": `