Micron Stock Notches Record High Ahead Of Earnings Report

Core Insights - Micron Technology's stock reached an all-time high of 160.34, closing at 157.77, as it prepares to release its fiscal fourth-quarter results [1][2] - Deutsche Bank analyst Melissa Weathers raised her price target for Micron stock from 155 to 175, maintaining a buy rating [1] - Micron is experiencing strong demand for high-bandwidth memory (HBM) products, particularly for data centers supporting artificial intelligence applications [2] Financial Performance Expectations - Analysts expect Micron to report adjusted earnings of $2.78 per share for the fiscal Q4, a 135% increase year-over-year, with sales projected to rise 48% to $11.12 billion [3] - For the fiscal first quarter, earnings are anticipated to be $3 per share, up 68%, with sales expected to reach $11.8 billion, a 36% increase [4] Market Position and Ratings - Micron holds a top IBD Composite Rating of 99, indicating strong market performance [4] - The company is featured on multiple IBD stock lists, including IBD 50, Leaderboard, and Tech Leaders, highlighting its prominence in the semiconductor sector [4]