Is Micron Technology Stock Going to $150? 1 Wall Street Analyst Thinks So.
Micron Technology (NASDAQ: MU) shares have nearly doubled over the last 12 months following a sharp turnaround for this top memory chip supplier. 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.
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).
Source Fool.com
Micron Technology Inc. Stock
Currently there is a rather positive sentiment for Micron Technology Inc. with 74 Buy predictions and 5 Sell predictions.
On the other hand, the target price of 119 € is below the current price of 119.36 € for Micron Technology Inc., so the potential is actually -0.3%.
