Micron Technology Surges 241.7% in Q2, Marking Best Single Quarter in Company History

According to Barron's, Micron Technology (MU) stock surged 241.7% in the second quarter (April through June), marking the company's best single-quarter performance on record. Shares closed at $1,154.29 on Tuesday (June 30).

Year-to-date, the stock has risen 304%, and over the past 12 months, it has climbed roughly 855%, according to Dow Jones Market Data. The company is bolstering its position through long-term supply contracts with customers that include minimum price guarantees, which Micron says will sustain gross margins "well above" historical peaks. UBS analyst Timothy Arcuri maintains a buy rating with a $1,625 price target.