Micron Technology, Inc.

NASDAQ Global Select
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Very Bullish +85

MU Hits Record High, SNDK Jumps Nearly 12% - TradingView

📈 Micron Technology (MU) hit a record close of $1,133.99, gaining 8.7% on Thursday.

🚀 SanDisk (SNDK) surged nearly 12%, extending gains into after-hours trading with a 1.48% rise.

💰 Wedbush raised its MU price target to $1,300 from $550, implying 22% upside.

📊 Rosenblatt increased its MU target to $1,200 from $600, maintaining a 'Buy' rating.

🔝 Stifel lifted its MU target to $1,500 from $550, citing AI-driven demand strength.

🗣️ Apple CEO Tim Cook confirmed unavoidable price hikes to offset rising chip costs.

📅 Micron is set to report earnings on June 24, keeping the stock in focus.

📈 Q2 NAND and DRAM pricing rose by double- to triple-digit percentages.

⏳ Limited new supply is expected for another 12 months, supporting price levels.

📉 MU has gained nearly 305% year-to-date compared to SNDK's 805% surge.

💬 Stocktwits sentiment for SNDK is bullish with extremely high message volume.

🔍 Analysts cite strong demand in data center and server markets as a key factor.

Bullish Signals
  • MU shares hit a fresh record high, demonstrating strong market confidence and momentum.
  • Multiple major analysts including Wedbush, Rosenblatt, and Stifel raised price targets significantly, implying substantial upside potential.
  • NAND and DRAM pricing surged by double- to triple-digit percentages in Q2 with expectations of further increases in Q3.
  • Strong demand trends in memory markets are being reinforced by Apple's supply chain dynamics.
  • Limited new supply expected for another 12 months creates a favorable environment for sustained high prices.
  • Robust demand from data center and server markets is driving revenue growth expectations.
  • SanDisk (SNDK) posted strong gains, extending the broad rally across the memory and storage sector.
  • Retail sentiment for SNDK is bullish with extremely high message volume indicating active investor interest.
Full Analysis
Micron Technology (MU) shares reached a fresh record high of $1,133.99 on Thursday, closing up 8.7%, while SanDisk (SNDK) surged nearly 12%. This rally was driven by strong demand trends in memory markets and a wave of bullish analyst price target hikes during the session. Both stocks extended their gains into after-hours trading, with MU rising an additional 1.16% and SNDK up 1.48%, reflecting sustained investor interest ahead of Micron's earnings release scheduled for June 24. The momentum was significantly bolstered by comments from Apple CEO Tim Cook regarding unavoidable price increases in hardware to offset surging memory chip costs. Wall Street analysts, including Wedbush, Rosenblatt, and Stifel, raised their price targets on MU substantially, citing double- to triple-digit percentage increases in NAND and DRAM pricing for Q2 and expectations of further climbs in Q3. Analysts point to limited new supply expected for another 12 months and robust demand from data center and server markets as key drivers. Micron's stock has gained nearly 305% year-to-date, while SanDisk has surged almost 805% over the same period. Retail sentiment on Stocktwits remains neutral for MU with low volume, whereas SNDK shows bullish sentiment amid extremely high message volume. The broader rally across memory and storage stocks is reinforced by the supply chain dynamics highlighted by Apple's leadership, suggesting a sustained upturn in the sector.