Overview
- Micron closed at $315.42, up 10.52% on the day, with 41.9 million shares traded, about 62% above its three-month average.
- Bernstein raised its price target to $330 with an Outperform rating, forecasting a 20% to 25% sequential DRAM price increase in Q1 and further gains through 2026.
- The rally builds on a strong December quarter, with revenue around $13.6 billion and guidance calling for roughly $18.7 billion in fiscal Q2 sales.
- Micron increased its fiscal 2026 capital spending plan to about $20 billion, signaling confidence in multi-year demand and acknowledging long capacity lead times.
- Management now projects the HBM market to reach about $100 billion by 2028, and memory peers also advanced as investors bet on tight supply conditions.