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Shares of Micron Technology climbed about 14.2% in early trading on Tuesday.
UBS raised Micron's price target to $1,625, over three times its previous $535 target.
KEY POINTS
- UBS's new target implies Micron could reach a $1.8 trillion valuation within twelve months.
- UBS forecasts long-term DRAM supply deals will stabilize Micron's historically volatile earnings.
- Hyperscalers are increasingly accepting fixed prices for long-term supply assurance with Micron.
COMPANIES
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