Why Micron Rallied Today
Shares of Micron Technology (NASDAQ: MU) rallied today, up as much as 4.6% before ending the day up 3.7%.
While today was a relatively good day for the semiconductor sector and artificial intelligence (AI)-focused names generally, Micron also received some positive company-specific news, by way of negative news pertaining to one of its two big competitors.
Korean giant Samsung typically reports pre-earnings guidance shortly after the end of each quarter, and today guided for its second-quarter operating profit to fall 56% relative to last year, far below consensus.
Source Fool.com
Micron Technology Inc. Stock
€316.25
1.850%
The stock is an absolute favorite of our community with 132 Buy predictions and no Sell predictions.
As a result the target price of 340 € shows a slightly positive potential of 7.51% compared to the current price of 316.25 € for Micron Technology Inc..
