Micron Earnings Loom as Analysts Lift Targets on Memory Price Momentum

Micron Technology (MU) is set to report quarterly earnings after Wednesday's close, a result that could reshape sentiment across AI-linked chip stocks. Shares rose 1% Tuesday to $1,065.08, capping a roughly 550% gain over the past year as a core AI beneficiary. The stock trades above its 20-day, 50-day and 200-day simple moving averages of $1,000, $945 and $665. Across the past 11 quarters, Micron shares have risen five times and fallen six the day after earnings. They dropped 16.2% after fiscal first-quarter results but surged 15.7% after the most recent report in June, its best post-earnings session on record. Wedbush reiterated an Outperform rating and $1,400 target, saying chip prices "should be meaningfully better" than Micron's guidance assumed. JPMorgan also holds Outperform with a $1,540 target, citing tight memory supply.