Micron Is Now Up 89% in a Month. Should You Sell in May and Go Away?

"Shares of Micron Technology are surging on Wednesday, trading at around $804 and up roughly 5% on the session. The move extends a parabolic one-month run that has the stock approximately 89% higher when including today's intraday gains. Year to date, MU stock has now climbed 182%, and the one-year return sits at a stunning 732%. Micron shares touched a fresh 52-week high of $818.67 earlier today."

"Bank of America hiked its price target on Micron to $950 from $500, tied to an upgraded $1.7 trillion AI data center TAM forecast. That naturally raises the question the headline poses. With a stock running this hot, is it time to sell in May and go away? The Bank of America Catalyst Reignites the Rally Bank of America's revised target implies meaningful upside even from current levels and reframes Micron as a primary beneficiary of the AI memory supercycle."

"Micron's fiscal Q2 2026 results reinforced the thesis, with revenue reaching $23.9 billion, up 196% year over year and non-GAAP EPS of $12.20. Q3 FY2026 guidance calls for a record $33.5 billion in revenue and gross margin near 81%. Micron CEO Sanjay Mehrotra stated, "AI has not just increased demand for memory; it has fundamentally recast memory as a defining strategic asset in the AI era." The remark underscores management's conviction that AI workloads have permanently restructured memory demand."

"An 89% one-month gain is historically anomalous, and memory has long been a highly cyclical corner of semiconductors. Previous parabolic runs in 2017 and 2020 ended with sharp drawdowns once pricing power inflected. Single-session swings of 5% to 9% in MU shares are now common, signaling elevated volatility. Sentiment indicators echo the caution."

Micron Technology shares rose about 5% to around $804, extending a parabolic one-month run with roughly 89% gains including intraday movement. The stock is up 182% year to date and 732% over one year, reaching a new 52-week high near $818.67. Bank of America raised its price target to $950 from $500, citing an upgraded $1.7 trillion AI data center total addressable market forecast. The upgrade frames Micron as a key beneficiary of an AI memory supercycle. Fiscal Q2 2026 results showed revenue of $23.9 billion, up 196% year over year, and non-GAAP EPS of $12.20, with Q3 guidance for $33.5 billion revenue and gross margin near 81%.

Read at 24/7 Wall St.