Buying Micron Technology Stock Is a No-Brainer Right Now
Shares of Micron Technology (NASDAQ: MU) sank 4% after the company released fiscal 2023 fourth-quarter results (for the three months ended Aug. 31) on Sept. 27, but a closer look at the chipmaker's results suggests that its latest drop is a buying opportunity.
Micron struggled on account of weak memory demand in recent quarters, which has led to a sharp decline in memory prices and sent the company's top and bottom lines plunging. The company's latest quarterly report followed a similar storyline, but its guidance makes it clear that a turnaround is almost here.
Let's look at the reasons why buying Micron stock right now is a no-brainer.
Source Fool.com
Micron Technology Inc. Stock
€101.18
2.110%
The stock is one of the favorites of our community with 94 Buy predictions and 4 Sell predictions.
As a result the target price of 126 € shows a positive potential of 24.53% compared to the current price of 101.18 € for Micron Technology Inc..
