【AI+MU】Micron Stock Surges 4% Before Earnings, Breaks Record High; YTD Gain Reaches 60% with Market Cap Exceeding $500 Billion; Analysts: Momentum Resembles NVIDIA's Trajectory Back Then, $1,000 Target Not Unreasonable

Micron Technology (NYSE: MU), the memory storage stock, will report earnings after the market closes on Wednesday. The stock has performed well ahead of the announcement, rising 4%, and is up 61% year-to-date. Its market capitalization has surpassed $500 billion, and currently, only 16 companies in the S&P 500 have a market cap exceeding $500 billion. The company previously stated that memory products designed around NVIDIA’s (NASDAQ: NVDA) Vera Rubin platform will begin mass production in the first quarter of this year. Some analysts point out that the current upward momentum of the dollar is reminiscent of NVIDIA’s past, with its stock price reaching $1,000, which doesn’t seem impossible.

Market expectations for Micron are quite high, with forecasts indicating that its second-quarter profits could increase fivefold and revenue could rise 1.4 times. Investment manager Fang Zeqiao from Guonong Securities’ research department analyzed in our video program “ET Market Opening Live” that although the stock has already gained 61% this year, the rapid growth is expected to continue. “The market expects full-year revenue for 2026 to be between $50 billion and $55 billion, with an estimated P/E ratio of around 12 to 15 times. So, is it really expensive now? Not really.”

He pointed out that Micron’s momentum is similar to NVIDIA’s in the past. “Gross margins are rising, revenue has also increased significantly, and demand is currently outstripping supply. With such strong growth… I believe the gains will continue.”

Regarding trading strategies, Fang Zeqiao suggests buying on dips. “Whenever it drops, buy a little. However, I don’t think a big drop is very likely… After the earnings are released, if there are any reasons for a slight pullback, that could be a good opportunity to buy, because I remain quite optimistic about this temporary memory storage sector this year.”