BUZZ-Micron extends gains as Barclays hikes PT on demand frenzy

Micron Technology, Inc.

Micron Technology, Inc.

MU

0.00

** Shares of Micron Technology MU.O rise 9% premarket, extending gains after co crossed $1 trillion of market value in the previous session

** Barclays raises price target on the stock to $1,175 from $675; new PT implies a 31.2% upside to stock's last close

** MU has become emblematic of the memory-chip boom over the past year, and its rise shows that investor optimism remains strong

** Barclays says demand for memory chips could continue to outpace supply through 2027

** Micron's rival SK Hynix 000660.KS also topped $1 trillion ​in market value for the first time on Wednesday

** YTD, MU has jumped over threefold


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