Micron Technology Inc. experienced a significant surge in its stock price Thursday morning, witnessing an approximately 8.5% increase to around $152 per share. This rise marks the company’s most substantial gain since April when shares soared roughly 19%. The expedited growth indicates that Micron is on course to achieve a record closing price.
The boost in Micron’s stock comes after Citi analyst Christopher Danely revised his price target for the company. Danely increased his forecast from $150 to $175 per share while also reaffirming his Buy rating for the stock. Micron, known for producing memory chips essential for artificial intelligence data centers and various consumer electronics, has solidified its position as a key player in the tech industry. Its memory chips power notable products like Nvidia’s graphics processing units and Apple’s iPhones.
Looking ahead, Danely anticipates that Micron will report fourth-quarter results aligning with Wall Street expectations on September 23. He projects a robust outlook for the company’s first-quarter revenue, estimating it to be “well above consensus guidance.” For the first quarter of its 2026 fiscal year, he predicts revenues of $13 billion, significantly higher than the $11.8 billion anticipated by analysts surveyed by Bloomberg.
Additionally, Danely expects earnings per share guidance to reach $3.23, surpassing the $2.98 consensus estimate among analysts. In his analysis, he highlighted that the ongoing upswing in the memory market is primarily driven by constrained production and stronger-than-expected demand, particularly from the data center segment. He also noted a recent uptick in orders originating from the artificial intelligence sector, further buoying Micron’s growth prospects.
