On this episode of Stock Movers:
- Pony AI (PONY) shares rise. Pony AI Inc. raised its robotaxi fleet target for this year by 500 vehicles to 3,500 after reporting stronger-than-expected first-quarter revenue. The company posted 145% on-year revenue growth to $34.3 million in the three months ended March, beating the $21.7 million average analyst estimate.
- Autozone (AZO) shares slide. The retailer of automotive replacement parts posted comparable sales for the third quarter that fell short of Wall Street’s expectations.
- Micron Technology (MU) shares gain. UBS raised its price target on the memory chipmaker to a Street-high view of $1,625, up from $535. The target implies the stock will more than double off its premarket price of roughly $800, and would represent a market capitalization of $1.8 trillion, suggesting Micron will cement its recent status as one of the largest companies in the world, and one of the most important companies of the AI trade.