Micron Technology Stock Rebounds Amid Semiconductor Sector Recovery
Micron's Drop Has Smart Money Circling Again

Image: Benzinga
Micron Technology Inc. shares rose by approximately 4% in premarket trading following a significant selloff, as investor sentiment improved. Despite a 13.25% drop last Friday, analysts remain optimistic about Micron's long-term growth driven by AI demand, with upcoming earnings expected to show substantial revenue growth.
- 01Micron shares increased about 4% in premarket trading after a sharp selloff last week.
- 02The stock had previously closed down 13.25% amid a broader semiconductor pullback.
- 03Analysts expect earnings of $19.33 per share for the upcoming June 24 report, up from $1.91 the previous year.
- 04Micron's stock has surged 678.74% over the past year, making it susceptible to profit-taking.
- 05KKM Financial's CEO views the recent dip as a buying opportunity, keeping Micron on their watchlist.
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Micron Technology Inc. (NASDAQ:MU) experienced a rebound in premarket trading, with shares rising about 4% after a significant selloff that saw a 13.25% drop last Friday. This decline occurred despite Micron's strong growth outlook driven by artificial intelligence demand, largely influenced by investor reactions to Broadcom Inc.'s quarterly results. Analysts maintain a positive outlook for Micron, with expectations of earnings reaching $19.33 per share and revenue of $33.90 billion for the upcoming earnings report on June 24. The stock has increased 678.74% over the past year, though this makes it vulnerable to profit-taking. KKM Financial's CEO Jeff Kilburg views the recent semiconductor pullback as a buying opportunity, indicating that Micron remains on their watchlist for potential re-entry. Technical indicators suggest that Micron is in a strong long-term uptrend, with key support at the 20-day moving average near $849.82 and resistance around its June peak of $1,089.29. As Micron continues to benefit from rising AI memory demand, analysts have raised their price forecasts, reflecting confidence in the company's growth prospects.
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Investors in Micron Technology could see significant returns as the stock rebounds, influenced by AI demand and upcoming earnings results.
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