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Micron Stock Soars on Chip Shortage | Business and Finance News
Description
Micron is riding a memory chip demand surge fueled by data centers, driving soaring prices and a massive stock rally. With supply shortages expected to persist past 2027, even new factories won’t quickly ease pressure. The company crushed Q3 earnings with a 346% revenue jump to $41.5B—way above its $33.5B forecast—and is targeting $50B next quarter. Analysts value Micron at just 7.6x FY27 earnings, far below the S&P 500’s 21.5x, hinting at strong upside potential if the chip shortage lasts.
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