MU: Targets Raised
Multiple analysts raise Micron Technology price targets after blowout results
Price-target moves: JP Morgan raised Micron Technology target from $550 to $1,540; Susquehanna raised to $2,000 from $1,750; D.A.
DAVIDSON raised to $2,000 from $1,500; RBC raised to $1,500 from $1,200; CLSA sets $1,320 and rates Outperform; Morgan Stanley raised its target to $1,200 from $1,050, maintaining Overweight.
Market takeaways: Analysts say Micron's profit-normalization may be higher than previously expected and the next downcycle could be more insulated; the blowout results make profit-taking difficult and have provided a lift to weak tech.
Earnings reaffirm an intact AI investment cycle, boosting semiconductor sentiment and supporting elevated valuations while earnings outlook holds.
Several strategists note memory-chip demand now appears to outstrip supply, implying greater reliability in a traditionally cyclical market.