Premarket Movers: Micron is Rocketing $31 Higher

• Micron is surging acknowledgment to beardown earnings. EPS of $4.78 bushed by 82 cents. Revenue of $13.64 cardinal bushed by $760 million.

• With an overweight standing connected AVGO, Morgan Stanley has a $462 terms people connected AVGO.

• Shares of Advanced Micro Devices are up astir 3%, oregon by $6 a stock successful premarket. Analysts astatine Piper Sandler person an overweight standing connected the stock.

• A caller survey identified 1 azygous wont that doubled Americans’ status savings and moved status from dream, to reality. Read much here.

Shares of Micron (NASDAQ:  MU) are up astir 14%, oregon by $31 this morning.

All acknowledgment to beardown earnings. EPS of $4.78 bushed by 82 cents. Revenue of $13.64 cardinal bushed by $760 million. Moving forward, the institution expects to gain betwixt $8.22 and $8.62 per share, with gross expected to beryllium betwixt $18.3 cardinal and $19.1 cardinal for the 2nd quarter. Analysts were looking for $4.78 per stock connected gross of $14.3 billion.

“Our Q2 outlook reflects important records crossed revenue, gross margin, EPS, and escaped currency flow, and we expect our concern show to proceed strengthening done fiscal 2026,” added Sanjay Mehrotra, Chairman, President, and CEO of Micron, arsenic quoted successful an net release.

Fueling further upside, Micron says supply-demand issues could make a $100 cardinal high-bandwidth representation (HBM) marketplace by 2028 – a milestone projected to get 2 years earlier the company’s erstwhile outlook.

Micron besides declared a dividend of $0.115 per share, which is payable connected January 14 to shareholders of grounds arsenic of December 29.

Shares of Broadcom (NASDAQ: AVGO) took a monolithic deed aft absorption warned of borderline pressures.  However, arsenic I noted the different day, analysts astatine Morgan Stanley inactive expect AVGO to spot beardown maturation moving forward.

With an overweight standing connected AVGO, Morgan Stanley has a $462 terms people connected AVGO. They besides judge the latest pullback is an overreaction.

Analysts astatine Bank of America person a $500 terms people with a bargain rating. Goldman Sachs has a $450 terms people with a bargain rating. UBS has a $472 terms people with a bargain rating. And Bernstein has a $475 terms people with an outperform rating.

This morning, AVGO is gaining mislaid crushed aft UBS added that it’s clip to bargain the dip. Technically, AVGO is severely oversold astatine $326.02. It’s besides overextended connected RSI, MACD, and Williams’ %R. From its past traded terms of $326.02, we’d similar to spot it rally backmost to $400.

Shares of Advanced Micro Devices (NASDAQ: AMD) are up astir 3%, oregon by $6 a share, successful premarket. Analysts astatine Piper Sandler person an overweight standing connected the banal with a terms people of $280 a share. The analysts are bullish connected the banal up of its Helios launch. Helios is simply a new, open, rack-scale AI level designed for AI grooming and inference.