Micron Technology Overnight Rise 3.13%
Micron Technology Overnight Rise 3.13%, Investment Bank Upgrades Rating as Storage Sector Continues Rally
Market Focus
13:43
On August 17, Micron Technology rose 3.13% overnight, trading at $1,002.42/share, with turnover of $4.04 billion.
On the news front, New Street upgraded Micron Technology from Neutral to Buy, significantly raising its target price from $470 to $1,250. Meanwhile, Q2 13F filings revealed that JPMorgan listed Micron as its top buy, UBS added both Micron shares and call options among its top five purchases, and Morgan Stanley also increased its position in AI hardware chain names including Micron.
The broader storage sector continued its strong momentum, with SanDisk's better-than-expected guidance earlier in the week triggering a sector-wide rally. SanDisk surged over 35% in five trading days, while SK Hynix and other storage names rose in tandem. Additionally, Micron announced its $250 million Ventures Paradigm Fund targeting next-generation AI infrastructure, bringing total venture commitments to $550 million.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
