Why Micron Rallied 21% This Week
Shares of Micron Technology (NASDAQ: MU) rallied 20.9% on the week through Thursday trading, according to data from S&P Global Market Intelligence.
Micron reported earnings on Wednesday, blowing away analyst estimates while also giving strong guidance. The move comes after the stock had been down nearly 50% from its June highs amid widespread concerns over memory demand. Therefore, the strong beat and guide caused a near-15% surge on Thursday alone.
In the quarter, Micron saw revenue surge to $7.8 billion, up 93% over the prior-year quarter, with adjusted (non-GAAP) earnings per share of $1.18, up from an adjusted loss per share of ($1.07) in the year-ago quarter.
Source Fool.com
Micron Technology Inc. Stock
€96.05
-0.230%
Our community is currently high on Micron Technology Inc. with 106 Buy predictions and 5 Sell predictions.
As a result the target price of 125 € shows a positive potential of 30.14% compared to the current price of 96.05 € for Micron Technology Inc..
