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Shares of Micron Technology Inc (NASDAQ: MU ) slipped 1.9% in early trading on Thursday, even after the company reported record fiscal fourth-quarter results and guided well above expectations. • Micron stock is moving today. What’s going on? Here are some key analyst takeaways: Rosenblatt analyst Kevin Cassidy reitera
DA Davidson raised its price target on Micron to $2,100 from $2,000. Other firms also reiterated or adjusted ratings and targets.
Micron Technology is expected to report fiscal fourth-quarter adjusted earnings of $31.16 a share and revenue of $50.4 billion. The company previously guided for revenue of $50 billion plus or minus $1 billion and adjusted earnings of $31.00 a share plus or minus $1.00.
The Nasdaq 100 fell 1.7% as 30-year Treasury yields held at 5.30% and rate-hike bets eased, while the optical and AI-hardware complex sold off sharply.