Micron Could Double From Here and Hit $1 Trillion

Micron Technology, Inc (NASDAQ: MU ) stock gained over 3% during Monday’s premarket session as risk appetite firms up into the open and traders continue to lean into the stock’s longer-term uptrend. Nasdaq futures are up 0.53% while S&P 500 futures have gained 0.18%.

The stock could deliver stronger earnings and cash flow for longer than the market expects as tighter industry supply and structural changes in the memory business extend the current cycle, according to Trivariate Research founder and CEO Adam Parker .

Parker told CNBC last Friday that Trivariate ran 10,000 simulations to assess how long Micron’s current earnings cycle could last and how much the company could generate. He believes consensus estimates assume earnings will fall too quickly after reaching a peak. Parker estimates...