Micron Technology, Inc.’s Stock Price Soars to $133.71, Marking a Stellar 5.58% Increase

Micron Technology, Inc. (MU)

133.71 USD +7.07 (+5.58%) Volume: 21.11M

Micron Technology, Inc.’s stock price soars to $133.71, marking a significant session gain of +5.58% on a robust trading volume of 21.11M shares, while boasting an impressive YTD performance with a +56.68% increase, reinforcing its strong market position.

Latest developments on Micron Technology, Inc.

Micron Technology‘s stock price movement today is influenced by the company’s announcement of sampling 32 Gbps GDDR7 memory for next-gen GPUs, showcasing over 1.5 TB/s bandwidth and a 30% improvement in game performance across all resolutions. This news has attracted investor attention, leading to a 2.7% increase in trading. Additionally, Air Liquide’s plan to invest $250 million in a plant to supply gas for Micron’s chipmaking process further highlights the company’s strong portfolio. With analysts upgrading the stock and a price target raised to $138.00, Micron’s advancements in graphics memory for gaming and AI have positioned it as a potential buy, despite recent underperformance in the market.

Micron Technology, Inc. on Smartkarma

Analyst coverage of Micron Technology on Smartkarma reveals a positive sentiment towards the company’s recent performance. According to Baptista Research, Micron’s Fiscal Second Quarter 2024 Earnings showed optimism with substantial demand for High Bandwidth Memory (HBM) exceeding expectations. This has led to HBM supply for 2024 being sold out, with most of 2025’s capacity already allocated due to the product’s high performance specs and lower power consumption.

Furthermore, analysts like William Keating highlight Micron’s strong financial position, with Q224 revenues up 23% QoQ and 58% YoY, resulting in positive net income. Keating forecasts continued growth for the company, with anticipated revenues of $6.6 billion and a gross margin of 26.5%. Overall, analyst reports on Smartkarma indicate a bullish outlook on Micron Technology‘s future prospects and performance.

A look at Micron Technology, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Micron Technology has a promising long-term outlook. With a high Momentum score of 5, the company is showing strong positive price trends and investor sentiment. Additionally, Micron Technology scores well in Resilience with a score of 3, indicating its ability to withstand market volatility and economic downturns. While the Value, Dividend, and Growth scores are not as high, they still show positive signs for the company’s overall performance and stability in the long run.

Micron Technology, Inc. is a leading manufacturer of semiconductor components, memory modules, and various types of memory chips. Despite not scoring the highest in all categories, the company’s overall outlook remains positive based on the Smartkarma Smart Scores. Investors may find Micron Technology to be a solid choice for long-term investment, especially considering its strong Momentum score and resilience in the face of market challenges.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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