Micron Stock Poised for $1,250 Rally After Earnings

Micron Technology (MU) is poised for a significant rally after its earnings results on Sept. 30, with a potential price target of $1,250, its 52-week high. The artificial intelligence (AI) build-out is driving strong demand for Micron's memory chips, with gross and profit margins at record highs. While investors may be concerned about a potential decline, the AI buildout's longevity and expected $3 trillion to $4 trillion in global AI capital expenditure by 2030 should sustain demand for memory chips.