BUZZ-Micron jumps after strong forecast, $22 billion commitment

Micron Technology, Inc.

Micron Technology, Inc.

MU

0.00

** Shares of memory chipmaker Micron Technology MU.O surge 17% to $1,228 premarket

** Co forecast quarterly profit and revenue well above expectations on Wednesday and said its customers had committed $22 billion to lock in supplies of memory chips

** J.P. Morgan raises PT to $1,540 from $550; maintains an 'overweight' stance, says results and guidance were far ahead of pre-call Street and buy side expectations

** Reported Q3 revenue of $41.46 billion, beating estimates of $35.85 billion

** 47 analysts rate stock "buy" on average; median PT is $1,300 - data compiled by LSEG

** Up to last close, stock had surged nearly 267% YTD


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