Mar 21, 02:02 PM

Micron Reports Record $1 Billion HBM Revenue; Jim Cramer, Sanjay Mehrotra Comment as Shares Fall 15%

Micron Technology reported a record revenue of over $1 billion from its high-bandwidth memory (HBM) products in the recent fiscal second quarter. Despite this achievement, the company's shares experienced a notable decline, falling approximately 15% within hours after the earnings report, as analysts expressed concerns over memory chip pricing impacting profit margins. Jim Cramer commented positively on Micron's outlook, stating that 'Micron looks good,' while CEO Sanjay Mehrotra highlighted the record revenue. Analysts have since adjusted their price targets for Micron, with Rosenblatt maintaining a 'Buy' rating but lowering its price target to $200 from $250 due to anticipated pressure from DRAM supply amid rising AI demand. Other analysts also weighed in, with Jefferies reiterating a 'Buy' rating for Nike, maintaining a price target of $115, and various analysts providing updated ratings and price targets for NIO, with price targets ranging from $4.20 to $5.90.