Why Micron Technology Rallied Today
Shares of Micron Technology (NASDAQ: MU) were rallying today, especially in comparison to the overall semiconductor sector. Micron shares rose as much as 5.2% before settling into a 2.8% gain as of 11:53 a.m. ET. That compared favorably to a 0.4% decline for the iShares Semiconductor ETF at that time.
Micron's outperformance can likely be attributed to the surprise political news out of South Korea this morning.
Late Tuesday night in South Korea, which is early in the morning in the U.S., South Korean President Yoon Suk Yeol declared martial law. The president, the leader of the Conservative party, accused the opposition in the country, which has a majority in parliament, of sympathizing with North Korea. But the measure appears to be a response to the opposition's recent actions to impeach top prosecutors and reject the president's budget proposal.
Source Fool.com
Micron Technology Inc. Stock
The stock is one of the favorites of our community with 142 Buy predictions and 1 Sell predictions.
As a result the target price of 425 € shows a slightly positive potential of 7.66% compared to the current price of 394.75 € for Micron Technology Inc..
