Micron’s (NASDAQ: MU) stock price will retest its all-time highs this year because the Q2 results and guidance reveal an NVIDIA-like (NASDAQ: NVDA) moment. A long time in the making, Micron's results show the boom in demand for NVIDIA AI-focused GPUs. The data center semiconductor business grew 300% in Q4, leading to system-wide outperformance versus MarketBeat’s reported consensus and favorable guidance.
Akin to NVIDIA’s performance since 2023, Micron’s guidance for Q3 revenue is about 500 basis points above the consensus estimates, leading analysts to increase their forecasts and raise their price targets, creating a strong tailwind for market action.
