The semiconductor maker is slated to report fiscal second-quarter results after the bell Wednesday.
Don't sleep on Micron Technology this week. The report comes as sentiment around artificial intelligence remains high. Nvidia shares added to their 2024 rally on Monday as the company kicked off its GTC Conference. Other AI plays such as Alphabet and Super Micro Computer were also higher.
" The analyst maintains an outperform rating on Micron stock as well as a $120 per share price target, which equates to roughly 29% upside. Micron shares are up 12% this year. While that outperforms the S & P 500's 8% gain, it is well below Nvidia's 82% surge. That performance gap, however, could signal a buying opportunity into Micron's report.
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