Micron Technology Inc (NASDAQ:MU) is up 9.5% to trade at $1,075.51, enjoying broader tech tailwinds amid several analyst price-target hikes. TD Cowen raised its target to $1,500 from $660, RBC Capital Markets lifted its target to $1,200 from $525, and Aletheia Capital set a Street-high $1,600 target, citing strong AI demand. Investors are also looking ahead to the company's fiscal third-quarter earnings report, due out after the close Wednesday, June 24.
Today's bull gap has Micron Technology stock trading just below its June 3 record high of $1,089.29. Strong support at the ascending 20-day moving average helped capture the pullback from that peak. Since the start of the year, the equity is outperforming with a 275% lead.
Meanwhile, MU sports a Schaeffer's Volatility Scorecard (SVS) of 89 out of 100, indicating the shares have consistently delivered larger moves than options traders have priced in over the past year.
