Does Micron (MU) have what it takes to be a top stock pick for momentum investors? Let's find out.
Micron (MU) shares have had a monster rally heading into the memory chip specialist's fiscal Q3 earnings scheduled for Jun. 24 after market close. Consensus is for MU's revenue to nearly quadruple on a year-over-year basis in the third quarter to about $35 billion on a 10x increase in per-share earnings (EPS) to $19.72.
Micron Technology Inc (NASDAQ:MU) is up 4.5% at $1,185.40 this afternoon, enjoying a pre-earnings lift, earlier touching a record high of $1,204.50.
Micron Technology Inc (NASDAQ:MU) shares rose more than 4% on Monday after the company announced a strategic agreement with Anthropic covering AI infrastructure design, supply commitments, enterprise software adoption and a strategic investment. The memory chip maker said the collaboration spans memory and storage architecture design for AI systems, along with a multi-year supply agreement and Micron's participation in Anthropic's Series H funding round.
AI hardware makers' stocks are off to a strong start this week, as anticipation builds ahead of results from Micron Technology.
Micron Technology (NASDAQ:MU | MU Price Prediction) has gone vertical in 2026, and the question on every shareholder's mind is whether $1,200 is the next obvious stop.
Micron Technology, Inc. is positioned as the key beneficiary of the AI-driven memory bottleneck, driven by the 4-to-1 HBM4-to-DRAM trade-off. MU's Q2 results far exceeded expectations, with $24B in revenue, 74.4% gross margin, $12.20 EPS, and $12B in operating cash—surpassing total long-term debt. Guidance for Q3 and beyond is bullish: $33.5B–$37B revenue, 81%+ gross margin, and FY27 EPS potentially reaching $82.67, compressing the forward P/E to 14.1.
Wall Street analysts have been rushing to lift their 12-month price targets for one of the biggest beneficiaries of the artificial intelligence (AI) boom of 2026, Micron (NASDAQ: MU), ahead of the June 24 earnings.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
The companies announced a supply agreement for memory and storage.
Wall Street enters the final full week of June with investors juggling inflation, artificial intelligence and the health of the banking sector. After last week's Federal Reserve meeting under new Chair Kevin Warsh, attention now shifts to a busy slate of economic data, corporate earnings and Fed commentary that could help shape expectations for interest rates and market direction heading into the second half of the year.
Micron Technology (NASDAQ:MU | MU Price Prediction) stock is up about 6% in Monday morning trading to around $1,199, leading a broad memory and storage rally into the company's Wednesday earnings report.