Micron's 21% March Rally Sets High Bar for Earnings on Thursday
- Series of analyst price target hikes has fueled recent run
- Morgan Stanley cautions that further upside may be limited
Photographer: Tomohiro Ohsumi/Bloomberg
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Micron Technology Inc. has a lot to live up to with its earnings report this week.
The memory-chip maker’s shares have surged 44 percent this year, including a 21 percent run in March alone. That outperformance may mean it will take more than the usual beat-and-raise quarter to impress traders when the company posts fiscal second-quarter results after Thursday’s market close.