Micron Soars on AI Boom, Blowout Earnings; Analysts Raise Price Targets to $300+

• Micron Technology reported blockbuster fiscal first-quarter results, surpassing Wall Street expectations for revenue and earnings.
• Shares surged nearly 16% after the Idaho-based company posted adjusted earnings of $4.78 per share on $13.64 billion revenue.
• CEO Sanjay Mehrotra's team provided strong forward guidance, forecasting $8.42 EPS on $18.7 billion revenue for Q2.
• Wall Street analysts from Deutsche Bank, UBS, Bank of America, and Wells Fargo raised price targets, many to $300 or more.
• Analysts cite the AI boom, a durable "memory super-cycle," restrained supply, and strong execution as key drivers for Micron's continued growth.

Why It Matters: Micron's strong earnings and AI-driven demand signal a durable memory super-cycle, boosting analyst confidence.