MU
Wall Street looked at Micron and said: not done yet
Micron has already ripped more than 900% in the last 12 months and somehow the bulls are still showing up with fresh target hikes like it’s a restock day at Costco. Susquehanna, UBS, Mizuho, and DA Davidson all boosted their outlooks, arguing that the company’s memory-chip gravy train still has room to run.
The big thesis is pretty simple: demand for DRAM and NAND is still doing the heavy lifting, and Micron’s latest quarter gave the bulls ammunition. Revenue jumped 75% sequentially to $23 billion, which is the kind of number that makes valuation arguments sound less like hype and more like “okay, maybe they’ve got a point.”
Cheap... if you squint hard enough
On paper, Micron still looks cheap relative to its new giant-sized identity. The article says it trades at just 10 times estimated earnings, which is low enough to make value investors perk up like someone said “free shipping.” That said, the stock has also blasted into overbought territory, with its RSI sitting at 78 and the price running well above the 100-day moving average.
So yes, the analysts are still bullish. But the chart is also basically waving a tiny yellow flag.
What this means for your money
If you own MU, this is the classic “great business, maybe a hot stock” setup. The fundamentals look strong, the Street is still raising estimates, and the AI memory cycle could keep pumping. But after a 900%-plus run, even the best growth story can take a breather.
Big picture: Wall Street still thinks Micron has room to grow — but if you’re jumping in now, you’re not exactly getting the sleepy bargain-bin version anymore.