Micron Skyrockets After Huge Revenue Upgrade - Could MU Be Worth $2,500 Per Share?

Micron Technology (MU) surprised with 16% higher revenue in FY Q3 (ending May 28) than analysts' forecasts. Moreover, they have significantly raised their FY 27 forecasts. As a result, MU stock's fair market value (FMV) could be as much as $2,500 per share, or almost double its closing price on Thursday, based on strong FCF expectations next year.

As a result, MU skyrocketed over 15.7% on Thursday, June 25, to $1,213.56. This is based on the company's strong performance and the market's realization that memory prices are likely to stay high next year and beyond.