Futurum Equities Chief Market Strategist Shay Boloor expects Micron Technology Inc. (NASDAQ:MU) to end the decade operating at a revenue run rate exceeding $300 billion.
Micron Could Exit 2028 At $300 Billion-Plus Annualized RRR
When another X user asked Boloor about Micron Technology’s long-term prospects, the strategist offered an equally bullish forecast.
“MU will likely exit 2028 at a $300B+ annualized revenue run rate,” he responded.
An annualized revenue run rate reflects the pace at which a company is generating revenue at a given point in time, rather than its total reported revenue for the full year.
Micron Beats Earnings, Issues Strong Q4 Guidance
Last week, Micron posted third-quarter revenue of $41.46 billion, topping analysts’ expectations of $35.59 billion, while adjusted earnings came in at $25.11 per share, above the consensus estimate of $20.63 per share.
The company forecast fourth-quarter revenue of $50 billion, plus or minus $1 billion, well above analysts’ expectations of $42.95 billion.
Micron also projected adjusted earnings of $31 per share, plus or minus $1, compared with Wall Street estimates of $25.50 per share.
Micron Price Targets Signal Strong Upside
According to Benzinga Pro, Micron has a consensus price target of $1,293.57 based on ratings from 29 analysts.
The latest price targets from Cantor Fitzgerald, Barclays and Citigroup average $1,633.33, implying roughly 40.9% upside from current levels.
Analysts have given a consensus Buy rating.
Price Action: Micron shares fell 6.7% to close at $1,132.33 on Friday but rebounded 1.8% to $1,152.31 in Monday’s premarket trading. Year-to-date, the shares are up by 258.99%, while in the past 12 months, the shares have gained 818.73%, according to Benzinga Pro.
According to Benzinga Edge Rankings, Micron ranks in the 99th percentile for Momentum, with the stock delivering positive returns over the short, medium and long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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