Micron Gains as Samsung Averts Strike and AI Chip Demand Surges
Micron Technology's stock climbs after Samsung reaches a last-minute labor deal averting an 18-day strike that could disrupt memory-chip supply. A surge in demand for high-bandwidth memory for AI data centers helps the sector, with Micron reporting record Q2 revenue of $23.9 billion, EPS $12.07, and near doubling of gross margins as new plants come online. Wall Street shows a Strong Buy consensus, with an average target of about $657 per share, implying some downside from current levels.