Micron (MU) Stock Soars to Record High on Explosive AI Memory Growth
Micron Technology's stock reached a record intraday high of $592.77 on Monday, closing 6.31% higher at $576.45, after the company reported a 772% surge in net earnings for its second quarter fiscal 2026. The stock has surged 60.7% over the last 30 days, with year-to-date gains hitting 90%.
Micron Technology's stock hit a record high on Monday, closing at $576.45, a 6.31% increase. The company's second quarter fiscal 2026 net earnings surged 772% to $13.78 billion, with revenues reaching $23.86 billion. D.A. Davidson launched coverage with a $1,000 price objective, representing a 73% potential upside. Analysts remain positive, with 27 out of 30 maintaining Buy recommendations. Micron's valuation multiple is approximately 25 times earnings, below competitor Sandisk's 40 times trailing earnings ratio. The company projects revenue of $33.5 billion for the third quarter, representing a 260% year-over-year expansion.
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