Why Micron Stock Is Soaring Today
Micron Technology (NASDAQ: MU) stock is posting big gains Thursday amid a positive indicator for its industry and bullish momentum for the broader market. The company's share price was up 5.7% as of 3 p.m. ET. The S 500 and the Nasdaq Composite were up 1.9% and 2.6%, respectively.
Micron's valuation is jumping today after fellow memory-chip player SK Hynix posted strong first-quarter results driven by artificial intelligence (AI) tailwinds. The company's stock is also getting a substantial boost from bullish market momentum spurred by trade hopes.
SK Hynix published its first-quarter results before the market opened today, and the performance came in significantly better than Wall Street anticipated. Even though the South Korean company is a competitor, its recent business momentum is likely a bullish demand indicator for Micron.
Source Fool.com
Micron Technology Inc. Stock
The stock is an absolute favorite of our community with 134 Buy predictions and no Sell predictions.
However, we have a potential of -0.6% for Micron Technology Inc. as the target price of 358 € is below the current price of 360.15 €.
