What Is Going On With Micron Stock On Thursday?

AI Demand Continues To Lift Memory StocksThe latest rally in Micron shares came amid analysts’ forecasts of sustained AI infrastructure spending, tighter memory supply conditions, and growing demand for high-performance chips used in data centers.Recent commentary included raised price forecasts for Micron to $1,100 from $700 and to $950 from $500, reflecting optimism around long-term AI-driven growth.Analysts also highlighted supply bottlenecks tied to advanced packaging and power availability, as well as longer-term customer agreements that could make semiconductor earnings more stable and predictable.NVIDIA Results Reinforce AI Spending MomentumThe move followed NVIDIA’s stronger-than-expected quarterly results and guidance, which reinforced investor confidence in continued AI data-center spending.NVIDIA reported first-quarter revenue of $81.615 billion, up 85% year over year, while earnings per share reached $1.87, topping Wall Street expectations.The company also approved an additional $80 billion share buyback program and raised its quarterly dividend to 25 cents beginning with the June 26, 2026 payout.NVIDIA projected second-quarter revenue of $89.18 billion to $92.82 billion, much higher than consensus estimates of $86.62 billion.Why NVIDIA’s Outlook Matters For MicronMicron remains one of the world’s largest memory-chip suppliers, with DRAM serving as its primary revenue driver alongside NAND flash products.The company supplies chips for data centers, mobile devices, consumer electronics, automotive systems, and industrial markets.Because AI servers and accelerated computing systems require increasing amounts of high-performance memory, stronger AI infrastructure spending often boosts demand for Micron’s products. As confidence in AI-related capital spending grows, investors increasingly view Micron as part of the broader AI infrastructure trade.Earnings & Analyst OutlookLooking further out, the next major catalyst for the stock arrives with the June 24, 2026 (estimated) earnings report. EPS Estimate: $19.01 (Up from $1.91 YoY) Revenue Estimate: $33.60 Billion (Up from $9.30 Billion YoY) Valuation: P/E of 34.5x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock has a Buy rating and an average price target of $620.43 (ranging from $400.00 to $1100.00 across 50 analysts). Recent analyst moves include: Citigroup: Buy (Raises Target to $840.00) (May 19) Melius Research: Buy (Raises Target to $1100.00) (May 19) Mizuho: Outperform (Raises Target to $800.00) (May 19) MU Stock Price Activity: Micron Technology shares were up 2.15% at $747.70 during premarket trading on Thursday, according to Benzinga Pro data.Photo via ShutterstockThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.To add Benzinga News as your preferred source on Google, click here.