Micron Shares Surge Following Triple Analyst Upgrade

A remarkable sequence of analyst upgrades within a 48-hour window has propelled Micron Technology’s stock, driving a powerful rally of over 5%. The memory chip specialist from Idaho is currently at the center of a wave of Wall Street optimism, a notable shift for an industry often characterized by cyclicality and uncertainty. The surge in confidence stems from a fundamental reassessment of the company’s prospects.

The catalyst for this reassessment began on September 17th, when Wolfe Research issued a surprisingly positive outlook. The firm’s analysts pointed to resilient DRAM pricing and emphasized that demand for NAND flash memory is strengthening due to a shortage of hard disk drives. Wolfe Research set a new price target of $180.

The... Read more...