Micron Hits Record Highs as Goldman Lowers Q4 Brent Forecast to $80
MU•Goldman Sachs now forecasts Brent at $80 and WTI at $75 in Q4 as a US-Iran ceasefire could reopen the Strait of Hormuz, driving energy costs lower. Micron shares rallied to all-time highs, bolstered by renewed AI sector momentum and potential consumer tailwinds from cheaper fuel.
1. Goldman Sachs Lowers Q4 Crude Forecasts
Goldman Sachs now expects Brent to average $80 per barrel and WTI at $75 in the fourth quarter, citing a potential reopening of the Strait of Hormuz by late July following a US-Iran ceasefire.
2. Semiconductor Stocks Surge on AI Momentum
Micron shares climbed to record levels as semiconductor equities rallied, driven by renewed enthusiasm for AI technologies, robust order flows, and expectations of continued margin expansion.
3. Consumer Spending Boost from Lower Fuel Costs
Declining energy prices are expected to ease pressure on household budgets, potentially enhancing consumer sentiment and supporting demand for technology products during upcoming retail events.
