With the closing bell on June 24 and the quarterly filing that came with it, Micron (NASDAQ: MU) effectively erased its entire stock market loss created with the 13% drop on Monday.
Indeed, MU shares are, in the extended session leading to the Thursday session, up 18.02% from their last closing price of $1,047.92 to $1,236.71 at press time.
The upsurge is driven by the earnings report covering the fiscal third quarter (Q3), which featured a double beat of analyst estimates and a quadrupling of revenue relative to the same period in the previous year.
Specifically, Micron announced its earnings per share (EPS) amounted to $25.11, while $20.78 was expected, and its revenue was $41.46 billion, significantly above the consensus forecast of $35.84 and $9.3 billion 12 months earlier.
Micron stock soars 292% in 2026
Looking at the MU stock market performance, the extended session upsurge not only erased the losses from earlier in the week but also sent the equity above its previous 52-week high of $1,213.56.
Overall, Micron shares are up 232.23% year-to-date (YTD) and soared 723.51% in the last year by the Wednesday closing bell price at $1,047.92. Once the Thursday, June 25 pre-market rise is accounted for, the rallies increase to 292.08% and 871.87%, respectively.
Wall Street sets Micron stock price for the next 12 months
Elsewhere, Wall Street analysts also reacted positively to the earnings. In the hours following the earnings, Micron received more than a dozen rating revisions, with every one of them featuring a ‘Buy’ recommendation, per the data Finbold retrieved from TipRanks.
The highest new 12-month price target was assigned by Melius Research’s Ben Reitzes and amounts to $2,200 – simultaneously the new Street high – for a 77.89% forecasted rally.
The lowest came from Morgan Stanley (NYSE: MS) analyst Joseph Moore, who set his sights at $1,200 – an upgrade from the previous $1,050 despite effectively predicting a 2.97% decline from $1,236.71 at press time.
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