Micron earnings due at the end of the month

With actions of Micron Technology Inc. NASDAQ:MU Trading up just over 1% in Friday’s pre-market session, it looks like the company will end the week on a positive note.

Yesterday’s 3.5% rise set the stage for a climactic end to a good week, as this may be the first time the semiconductor maker closes above $100.

If it succeeds, it will be the latest chapter in a stunning triple-digit rally that has been underway since early last year but has resumed in recent weeks. To give an example, in the last three weeks alone there has been a rise of 25%, with the stock trading at its all-time high since 2022.

Given the attention semiconductor stocks have received from the media Nvidia Corporation NASDAQ:NVDA in particular, capturing the market’s attention, Micron’s strong performance should not surprise you. For a long time now, Micron has been one of the best semiconductor alternatives to own after Nvidia, and as Micron stock targets the $100 price point, that argument becomes stronger.

New bullish comments

Fear not for investors on the sidelines who are at the same time concerned that they have already missed much of the movement. Just yesterday, the Stifel team raised its rating on Micron shares from “hold” to “buy”, underlining that the general consensus on the company’s earnings in 2025 is “well off and too low”.

The company beat analysts’ expectations for its latest earnings report in December. That report also saw management issue guidelines ahead of the consensus at the time. But coming out so bullish just weeks before Micron’s fiscal second-quarter results bodes well for the stock’s upside potential.

Stifel’s new $120 price target alone indicates an immediate $120 upside, which isn’t all that hard to see happening in the run-up to this month’s report, especially with the momentum from last week. Their position echoes that of the Citi team, which only ten days ago raised its rating on Micron shares.

Compared to industry peers, he believes Micron has underperformed so far this year, unfairly burdened by overly negative comments from Micron’s counterparts.

These two analyst calls alone should be enough to pique the interest of most investors, especially if the risk appetite is there to get into the stock ahead of its earnings. We saw with Nvidia’s earnings last week how powerful a move this can be, but it’s not without risk.

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Earnings tend to be binary affairs, where a stock beats expectations and recovers or disappoints and falls. But based on what Wall Street has seen with Nvidia, how Micron has traded in recent weeks, and what the Stifel team said yesterday, one has to think the upside potential here is attractive.

It’s worth noting that with a Relative Strength Index (RSI) reading of 72, Micron shares are in overbought territory, but with the $100 mark reached in Friday’s pre-market session, we’re inclined to say there’s it’s a little more room for that. one to run again. Expect momentum to continue to build into next week, with Stifel’s $120 price target a real possibility before the end of the month.

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