Will Micron Technology Stock Soar to $1,500 After Sept. 30?
Micron is expected to report another blockbuster set of quarterly financial results later this month.
Overview
Micron Technology (NASDAQ: MU) is one of the world's top suppliers of high-bandwidth memory (HBM) for data centers, which is a critical part of the artificial intelligence (AI) hardware stack. There is a global shortage of memory right now, so the company can dictate prices, which has been fantastic for its financial results.
But Micron stock closed at $977.41 on Thursday, Sept. 10, a 19% discount to its June all-time high. Investors are increasingly concerned about the sustainability of the data center spending boom because costs are rising so fast that many large organizations are limiting their AI usage to prevent budget blowouts.
Details
Micron can ease some of those concerns when it releases its financial results for its fiscal 2026 fourth quarter (ended Aug. 31) after the market closes on Sept. 30. According to management's guidance, the company's revenue and earnings likely continued to grow at an explosive rate.
Source
Originally published at www.fool.com.