Micron Posts $14B Profit, Raymond James Doubles PT to $1,100 on Nvidia AI Integration
MU has more than doubled off its 52-week low of $94.4.
Summary
Micron reported a significant $14 billion profit this quarter, a major turnaround from a $5.8 billion loss in 2023. Raymond James responded by dramatically increasing its price target for Micron to $1,100 from $530. This follows a series of positive news for Micron, including record Q2 fiscal 2026 results, sold-out HBM supply for 2026, and strong demand for memory products driven by AI. The substantial profit demonstrates strong execution and demand, particularly for high-bandwidth memory (HBM) integrated into Nvidia's AI platforms like the Vera Rubin system. The analyst's nearly doubled price target reflects strong conviction in Micron's continued growth, steady margins, and shareholder returns, driven by the booming AI sector.
At the time of this announcement, MU was trading at $1,057.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $94.40 to $1,076.56. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.