Premarket Movers: Micron is Rocketing $31 Higher

Micron Technology - Micron's shares increased by approximately 14%, or $31, following strong earnings results [2] - The company reported an EPS of $4.78, exceeding expectations by 82 cents, and revenue of $13.64 billion, surpassing estimates by $760 million [2] - For the upcoming second quarter, Micron anticipates earnings between $8.22 and $8.62 per share, with revenue projected between $18.3 billion and $19.1 billion [2] - CEO Sanjay Mehrotra highlighted record figures in revenue, gross margin, EPS, and free cash flow, with expectations for continued business performance improvement through fiscal 2026 [3] - Micron forecasts a potential $100 billion high-bandwidth memory (HBM) market by 2028, two years earlier than previously expected due to supply-demand dynamics [3] - The company declared a dividend of $0.115 per share, payable on January 14 to shareholders of record as of December 29 [4] Broadcom - Broadcom's shares experienced a significant decline after management indicated margin pressures [5] - Despite this, analysts at Morgan Stanley maintain an overweight rating on Broadcom, with a price target of $462, suggesting the recent pullback is an overreaction [6] - Other analysts, including Bank of America, Goldman Sachs, UBS, and Bernstein, have set price targets ranging from $450 to $500, all with buy or outperform ratings [6] Advanced Micro Devices - Advanced Micro Devices' shares rose by about 3%, or $6, in premarket trading [8] - Analysts at Piper Sandler have an overweight rating on AMD, with a price target of $280, expressing optimism ahead of the Helios launch, a new AI platform [8]