Micron ( (MU) ) has been popular among investors this week. Here is a recap of the key news on this stock.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Micron Technology has captured the attention of investors and analysts alike, as Morgan Stanley has significantly raised its price target for the company to $325 from $220, marking the highest target on Wall Street. This bullish outlook is driven by a surge in memory pricing, particularly in DDR5 and HBM products, which are essential for AI and server applications. Analyst Joseph Moore highlights that the demand for these memory types is outstripping supply, leading to a potential earnings boost for Micron. With the company’s earnings projected to exceed $25 per share by 2026, well above current market estimates, Micron is positioned to benefit from the ongoing AI-driven demand for memory chips.
Despite the optimistic projections, there is a consensus among 30 Wall Street analysts that Micron is a Strong Buy, with 27 recommending a Buy and three a Hold. However, the average price target of $225.36 suggests a slight downside from current levels. Analysts like Vijay Rakesh from Mizuho also maintain an Outperform rating, citing Micron’s strategic positioning to capitalize on strong demand for AI memory chips and tight DRAM and NAND supply. With new U.S. plants expected to bolster production, Micron is poised to expand its market share significantly over the next decade, making it an attractive stock for investors looking to tap into the growing AI and data center markets.