US Stock Market Move | Storage concept stocks surged, with Micron Technology, Inc. (MU.US) rising more than 6%.

On Monday, storage concept stocks surged, with SanDisk (SNDK.US) up over 7%, Micron Technology, Inc. (MU.US) and Seagate Technology Holdings PLC (STX.US) up over 6%, and Western Digital Corporation (WDC.US) up over 4%. Micron Technology, Inc. is scheduled to release its second quarter fiscal 2026 earnings report after the US stock market closes on Wednesday, March 18th (early morning of March 19th Beijing time). Wall Street analysts generally expect that driven by strong demand for High Bandwidth Memory (HBM), Micron Technology, Inc. is expected to break through $19.1 billion in revenue this quarter, with an estimated earnings per share (EPS) close to $8.56. Ahead of this earnings release for Micron Technology, Inc., Seeking Alpha financial analyst Dair Sansyzbayev reasserted a "strong buy" rating on the company. It is forecasted that Micron will maintain a strong average year-over-year revenue growth rate of over 100% in the next four quarters. At the same time, Wall Street analysts predict that its average earnings per share growth rate in the next four quarters will be as high as 332%, several times higher than the projected revenue growth rate. Given Micron's outstanding history of exceeding earnings expectations, the company has the potential to achieve the aggressive forecasts for the next four quarters. Sansyzbayev believes that Micron's stock price is severely undervalued before the release of its second quarter fiscal 2026 earnings report. Based on an annual earnings per share estimate of $35.38 for Micron, multiplied by the industry median forward price-to-earnings ratio of 21.76, the target price is approximately $770. This target price is significantly higher than the current stock price of just over $400.