Micron Technology continued to rise by over 2% in pre-market trading, with strong performance in the first quarter and receiving target price upgrades from major banks such as Morgan Stanley.

Micron Technology continued to rise more than 2% in pre-market trading, reaching $253.8; the stock soared more than 10% yesterday. On the news front, Micron's first-quarter performance was strong, with revenue increasing 56.7% year-on-year to $13.64 billion, operating profit up 168.1% year-on-year to $6.419 billion, and second-quarter performance guidance exceeding expectations. Subsequently, several major banks have raised their target prices for Micron. Morgan Stanley has once again designated Micron as a top stock, raising its target price from $338 to $350; analysts say this may be the largest increase in revenue/net profit in the history of the US semiconductor industry, aside from NVIDIA. Bank of America raised its target price from $250 to $300 and upgraded its rating from "neutral" to "buy." Citigroup raised its target price from $300 to $330, maintaining a "buy" rating.