Why Micron Technology Rallied Today
Shares of memory chip giant Micron Technology (NASDAQ: MU) rallied as much as 5.2% on Wednesday before falling back to a 3.5% gain as of the end of trading.
Micron received a bullish analyst note yesterday, which likely carried into Wednesday after 's (NYSE: ORCL) blowout long-term guidance last night. Yesterday's analyst note indicated memory would continue to be in undersupply next year, while Oracle's news lifted demand expectations for AI-related infrastructure through 2030.
Yesterday, sell-side analysts at Citigroup issued a positive note on Micron, reiterating its buy rating and saying the memory industry is likely to be in undersupply through 2026. The analysts believe that DRAM's demand growth will outstrip supply growth by 1.8 percentage points. In a surprise note, Citi expects even NAND flash, which has suffered from oversupply in recent years since the pandemic, to see demand outstrip supply by four percentage points.
Source Fool.com
Micron Technology Inc. Stock
With 89 Buy predictions and not a single Sell prediction Micron Technology Inc. is an absolute favorite of our community.
With a target price of 149 € there is a slightly positive potential of 4.52% for Micron Technology Inc. compared to the current price of 142.56 €.
