Micron Surges 15% on Strong Earnings; Multiple Investment Banks Raise Target Price to $2,000

Micron Technology (MU-US) shares surged over 15% to $1,213.56 on Thursday, June 25, following the release of stronger-than-expected earnings. Multiple investment banks, including JPMorgan Chase, Goldman Sachs, and Bank of America, have raised their price targets for the memory chip maker, with several setting targets as high as $2,000—the highest analyst target currently.

The company reported Q3 revenue growth of 346%, adjusted EPS over 12 times higher year-over-year, and a gross margin of 84.9%, exceeding Nvidia's performance. Micron also disclosed 16 long-term customer agreements locked through 2028–2031, expanding visibility significantly beyond prior guidance.