Micron Rallies 8.7% on June 18 as Deutsche Bank Raises Target to $1,500

According to Deutsche Bank and other Wall Street analysts, Micron Technologies surged 8.7% on June 18 to close at $1,133.99, with Deutsche Bank, TD Cowen, and Cantor Fitzgerald all raising their price targets to $1,500, implying 32.3% upside. Analyst Melissa Weathers cited expectations for May fiscal-year revenue to exceed prior guidance and noted further upside potential from continued price appreciation. However, Tom Essaye of Sevens Report warned that Micron's low forward P/E ratio of 10.2x reflects market skepticism about AI demand sustainability, raising concerns that cloud giants could cut capital expenditures if AI adoption slows.
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