BUZZ-Micron surges after upbeat results on booming AI chip demand
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Micron Technology shares surged 9.4% premarket due to strong AI chip demand. The company forecasts Q2 adjusted EPS of $8.42, surpassing estimates, and revenue of $18.70 billion. Micron plans to increase 2026 capex to $20 billion. Morgan Stanley predicts continued growth through 2027. The stock has more than doubled YTD, with a median price target of $270.
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