Micron extends winning streak, shares rise for seventh consecutive session

Micron Technology (NASDAQ:MU [https://seekingalpha.com/symbol/MU]) rose 4.01% to $195.37 in the afternoon trade, marking the seventh consecutive session of gains.The stock has been on a consistent rise over the past week, including a notable 8.86% rise on October 1.

Year-to-date, Micron has surged [https://seekingalpha.com/symbol/MU/charting?interval=YTD] 131.31%, and rose 50.86% over the past month [https://seekingalpha.com/symbol/MU/charting?interval=1M].

Looking at Seeking Alpha’s Quant [https://seekingalpha.com/symbol/MU/ratings/quant-ratings] Rating, it holds a strong "Buy" recommendation, scoring 4.98 out of 5. The company earned an A+ in growth and profitability, A in momentum, and B+ in valuation and revisions, reflecting strong investor sentiment.

Seeking Alpha analysts are bullish [https://seekingalpha.com/symbol/MU/ratings/author-ratings], rating the stock Buy.

Turning to the Wall Street [https://seekingalpha.com/symbol/MU/ratings/sell-side-ratings] community, analysts remain largely bullish, with 25 analysts giving the stock a Strong Buy and 6 recommending a Buy. Six analysts suggest holding the stock, while one analyst has a Sell recommendation.

Despite a significant valuation premium, analysts remain optimistic about Micron’s continued growth potential, driven by solid fundamentals and strong momentum.

Morgan Stanley upgraded [https://seekingalpha.com/news/4501963-micron-rises-after-rating-upgrade-at-morgan-stanley] Micron Technology (NASDAQ:MU [https://seekingalpha.com/symbol/MU]) to Overweight from Equal-weight, raising its price target to $220, adding, “We are looking at multiple quarters of double-digit price increases which can lead to substantially higher earnings power.”

An analyst pointed [https://seekingalpha.com/article/4828057-micron-rally-isnt-over-but-some-investors-should-think-about-leaving] out Micron's strong position in AI and data centers, saying, “For long-term investors, Micron remains one of the best plays to gain exposure to the AI and data-center boom.”

MORE ON MICRON TECHNOLOGY

* Micron's Rally Isn't Over, But Some Investors Should Think About Leaving [https://seekingalpha.com/article/4828057-micron-rally-isnt-over-but-some-investors-should-think-about-leaving]
* Micron's AI Mania In Full Swing: Potential Correction Ahead [https://seekingalpha.com/article/4827964-micron-stock-ai-mania-strong-potential-correction-ahead]
* Micron Is A Steal At All-Time Highs [https://seekingalpha.com/article/4827599-micron-is-a-steal-at-all-time-highs]
* Schwab Trading Activity Index advances further in September [https://seekingalpha.com/news/4502093-schwab-trading-activity-index-advances-further-in-september]
* Micron rises after rating upgrade at Morgan Stanley [https://seekingalpha.com/news/4501963-micron-rises-after-rating-upgrade-at-morgan-stanley]