Since the year began, shares of Micron have exploded from a low of about $295 to a recent high of $441.80. And while impressive, there’s more upside likely with the company expected to post strong earnings and guidance on Wednesday.
With its next round of earnings, Wall Street is looking for EPS of $8.74 to $8.77 for the quarter, with revenue of about $19.03 billion. Helping, analysts at Wedbush raised their price target on MU to $500 from $320, noting that Micron’s earnings outlook continues to improve.
Wells Fargo reiterated its buy rating on the stock with a $470 price target.
And, according to RBC Capital, which has an outperform rating and a $525 price target on Micron, stronger demand for high-bandwidth memory (HBM) is expected to accelerate, especially with next-generation processors such as Nvidia’s Rubin Ultra chips requiring 3.5 times as much HBM as current models.
Predicting stronger demand, Delta just raised its first-quarter revenue guidance above forecasts. The company now sees Q1 revenue rising by high-single digits to a range of about $15 billion to $15.3 billion, as compared to estimates for an increase of 5% to 7%, as compared to estimates for $14.67 billion. This is a result of “accelerated trends in consumer and corporate demand” and strength within its domestic and international segments, added Seeking Alpha.
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The roller coaster ride continues.
With oil now back above $95, the major indices are flat. The S&P 500 is up 0.06%, or by about four points. The SPDR S&P 500 ETF (SPY) is up 0.17%, or by about $1.16. The Dow is up 0.12%, or by about 55 points. The Nasdaq is down 0.02%, or by about four points. Gold is up about $23 at $5,019. Bitcoin is down about $980 to $ 73,892.
Unfortunately, there’s no certainty on when the war with Iran will end. There’s no certainty with oil shipping through the Strait of Hormuz. Especially with the U.S. announcing that a coalition to protect shipping is still in the works. All of which has made oil prices far more volatile. Markets hate that uncertainty.
The Federal Reserve is expected to leave interest rates unchanged, as policymakers weigh the impact of the war with Iran. That’s because of the war’s impact on energy prices, which could ripple through the economy, forcing food, utility, and transportation costs higher. Not helping, the Personal Consumption Expenditures index was already showing that prices were pushing higher. That’s a sign of rising costs even before the war with Iran.
There’s a 99% probability that the Fed will hold its benchmark rate steady, according to CME FedWatch. There’s now a 97% probability the Fed maintains the current range at its April 30 meeting. And a 77% chance that it will hold steady in June.
At Nvidia’s (NASDAQ: NVDA | NVDA Price Prediction) 2026 GTC conference, CEO Jensen Huang said he expects $1 trillion in orders for the company’s Blackwell and Vera Rubin systems, which doubles year-ago projections.
Regarding Vera Rubin, the company plans to roll that out this year. “The system, which is made up of 1.3 million components, will deliver 10 times more performance per watt than its predecessor, Grace Blackwell, the company claims. That’s a significant development when energy consumption is one of the most critical issues facing the AI build-out,” added CNBC.
The company also unveiled its first chip from Groq, which it acquired for $20 billion in 2025. It announced the launch of computing platforms for orbital data centers, and announced a new developer toolkit that will work with OpenClaw, a viral AI agent.
With that, analysts at Morgan Stanley reiterated an overweight rating on NVDA, noting that the tech giant laid out a “winning strategy.”
Needham analysts just said Amazon (NASDAQ: AMZN) is best positioned for AI.
Amazon also just announced that shoppers in U.S. cities will have access to three-hour deliveries, with one-hour deliveries also being offered in many of those areas, too. “More than 90,000 products are eligible for delivery in three hours or less, including pantry items, cleaning supplies, over-the-counter medications, clothing, and toys,” added CNBC. “Amazon said it expects to bring the service, which started via small-scale tests late last year, to more areas of the country in the coming months.”
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Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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