Mar. 13 at 7:32 PM
Micron Technology is set to report fiscal second-quarter earnings on March 18, and Wall Street expects the memory-chip maker’s strong momentum to continue.
Micron Technology shares have surged 302% over the past 12 months and are up 42% this year, helped by rising memory prices and strong demand tied to the AI data-center buildout. Analyst Matt Bryson of Wedbush Securities recently raised his price target to
$500 from
$320, citing stronger-than-expected industry pricing.
Contract prices for DRAM and NAND memory were initially expected to rise about 50%, but in some cases have climbed close to triple-digit increases, suggesting tighter supply and continued demand growth. Bryson said industry checks show no sign of weakening memory demand, with supply dynamics becoming even tighter.
Optimism across Wall Street remains strong: 44 of 49 analysts tracked by FactSet rate the stock Buy or Outperform.
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