Key facts: Micron Weak Quarter; Whale Longs; Analysts Raise Targets

Micron (MU) posted weak quarterly results; traders noted DRAM oversupply and slumping PC and smartphone demand drove a drop in the stock after the report.Four whale accounts opened

Micron (MU) posted weak quarterly results; traders noted DRAM oversupply and slumping PC and smartphone demand drove a drop in the stock after the report.
Four whale accounts opened MU longs on June 29, three likely linked, holding 9,027 contracts (~$10.3M) avg entry ~$1,156, recent liquidation ~$938, unrealized loss ~15%; one large short opened.
After Micron’s results, several analysts raised price targets and kept buy ratings; the average target implies about 27% upside from Micron’s last close.
Goldman Sachs says Micron Technology (MU) and Nvidia may drive roughly 40% of S&P 500 Q2 projected earnings growth, highlighting MU’s role in AI-driven demand for memory chips.
Micron’s $100B New York memory plant, announced 2022, targets production start in 2030. Multi-year build gives traders timeline for future supply and capacity shifts.