Micron shares climbed 1.2% to $1,028.80 in Tuesday’s premarket session, extending an 18% advance over the past month as higher memory-chip prices strengthened the earnings outlook. World Semiconductor Trade Statistics data showed DRAM average selling prices rose 6% month over month in July, while NAND pricing increased 9%. J.P. Morgan’s Harlan Sur said June figures were also revised upward, with DRAM and NAND sales each adjusted about 6% higher. DRAM accounts for approximately 75% of Micron’s revenue mix, making pricing trends important ahead of the company’s fiscal fourth-quarter results on September 30. Wall Street expects revenue of $50.41 billion and adjusted earnings per share of $30.89, compared with $11.32 billion and $2.84, respectively, in the year-earlier quarter. Micron’s third-quarter revenue was $41.5 billion, up 74% sequentially and 346% year over year. The shares have risen from a July trough of $736 to approximately $1,016, remaining above the 50-day exponential moving average, the Ichimoku cloud and the Supertrend indicator. Its Relative Strength Index reached 60, the highest level since late June, while technical traders identify $1,253 as the next major resistance area. Micron trades at a forward price-to-earnings multiple of 13.85, below the S&P 500’s approximately 19.9 and the technology sector’s roughly 22. Wall Street’s average price target of $1,295 implies about 27% upside. Long-term supply contracts limit how much of higher chip prices flows directly into revenue, but strong earnings and upgraded outlooks from Nvidia, AMD, Google and Amazon point to continuing demand for Micron’s memory products. Management has guided for fourth-quarter revenue above $50 billion, while analysts forecast full-year revenue of $242 billion in the upcoming fiscal year.