PREVIEW: Micron Technology rises ahead of Q1 results
** Shares of memory chip maker Micron Technology MU.O rise 2.4% to $111.25 ahead of Q1 results due after markets close
** Wall Street expects quarterly revenue of $8.71 bln vs. $4.73 bln a year earlier, according to data compiled by LSEG
** Analysts estimate adj. EPS of $1.75, compared with a loss of 95 cents a year earlier
** Rosenblatt Securities says revenue is being driven by strong demand for MU's data center products, including high bandwidth memory (HBM) chips
** Raymond James projects the HBM market to grow to more than $25 bln in 2025 from about $3 bln in 2023
** The U.S. Commerce Department said earlier this month it had finalized a $6.165 bln subsidy for MU to make semiconductors in New York and Idaho
** Of 39 analysts covering the stock, 34 rate "buy" or "higher", four "hold" and one "sell", median PT $140 - LSEG data
** Up to last close, MU had risen ~27% vs. ~24% gains in Philadelphia SE Semiconductor Index .SOX this year
Reporting by Jaspreet Singh in Bengaluru
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