5 Micron Technology Analysts Raise Forecasts After Blockbuster Q2 Results
Portfolio Pulse from Priya Nigam
Micron Technology Inc (NASDAQ:MU) shares surged after reporting strong fiscal Q2 results, leading to several analysts raising their price targets. The positive outlook is driven by significant price increases in DRAM and NAND, robust demand, and the company's advancements in high-margin areas such as HBM and data center SSDs. Analysts anticipate further price hikes and revenue growth, particularly from HBM and SSD sales, into fiscal 2024 and beyond.
March 21, 2024 | 4:57 pm
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Micron Technology Inc's stock surged following strong fiscal Q2 results, with analysts raising price targets due to increased DRAM and NAND prices, and growth in HBM and SSDs.
The positive earnings report and subsequent analyst upgrades reflect strong performance and optimistic future revenue growth, particularly from high-margin products like HBM and SSDs. This has led to a significant increase in the stock price, indicating a positive short-term impact.
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