Is Micron Technology Stock Going to $150? 1 Wall Street Analyst Thinks So. [Yahoo! Finance]
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: Yahoo! Finance
The stock currently trades near $120 after hitting a 52-week high of $130 earlier this year, but the demand for high-bandwidth memory in artificial intelligence (AI) servers could be a catalyst for further gains. Baird believes there is "meaningful upside" for Micron. Analyst Tristan Gerra upgraded the stock from neutral to outperform with a price target of $150, implying 25% upside from the current share price. AI is a growth catalyst for Micron To prepare for the future of AI, data centers are in the process of making significant investments to increase data capacity, network speed, and processing horsepower. Micron is getting caught up in the AI arms race with revenue jumping 57% year over year in its fiscal 2024 second quarter (ended Feb. 29). A key part of Micron's growth is an increase in higher selling prices caused by the limited availability of memory chips. Baird's internal research has found that pricing trends for dynamic random access memory (DRAM), which makes up
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MU
News
- Micron Technology, Inc. (NASDAQ: MU) had its price target raised by analysts at Mizuho from $130.00 to $150.00. They now have a "buy" rating on the stock.MarketBeat
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MU
Earnings
- 3/20/24 - Beat
MU
Sec Filings
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- 5/14/24 - Form 4
- MU's page on the SEC website