Micron ( (MU) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Micron Technology’s stock has surged as top analysts from UBS and Citi have raised their price targets. This upward movement is primarily driven by a DRAM supply shortage, which has led to increased demand and tighter supply conditions. UBS analyst Timothy Arcuri highlights the strong upside potential for Micron’s profitability, while Citi’s Christopher Danely expects higher DRAM pricing and long-term contracts to significantly enhance Micron’s gross margins and earnings per share.
More about Micron
YTD Price Performance: 128.72%
Average Trading Volume: 23,081,438
Technical Sentiment Signal: Buy
Current Market Cap: $215.4B
For further insights into MU stock on TipRanks’ Stock Analysis page.
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