Why Micron Technology Stock Is Soaring Today
Micron Technology (NASDAQ: MU) stock is surging in Monday's trading. The storage solutions company's share price was up 11.7% as of 1 p.m. EST amid the backdrop of a 1% gain for the S 500 index and a 1.5% rally for the Nasdaq Composite index.
Micron stock is gaining ground today thanks to Nvidia-related news. Investors got a new indicator that demand for the artificial intelligence (AI) leader's hardware remains very strong, and there's also excitement that the AI pioneer's CEO could discuss new hardware featuring Micron's technologies during his presentation this evening.
Foxconn Technology published its fourth-quarter results before the market opened this morning and reported record revenue. The China-based tech manufacturing company said that it was seeing strong sales for AI servers. Nvidia is one of Foxconn's largest customers. Meanwhile, Micron's technology is featured in Nvidia's Blackwell B200 and GB200 platforms.
Source Fool.com
Micron Technology Inc. Stock
With 117 Buy predictions and not a single Sell prediction Micron Technology Inc. is an absolute favorite of our community.
With a target price of 231 € there is a slightly positive potential of 15.3% for Micron Technology Inc. compared to the current price of 200.35 €.
