Is Now the Time to Buy Micron Technology Stock?
The artificial intelligence (AI) market has exploded over the past year, and among the businesses benefiting from this growth is Micron Technology (NASDAQ: MU). The company's sales are soaring because AI systems require lots of computer memory and storage, exactly the products Micron specializes in.
This led to an amazing run-up in the company's share price. Last July, Micron stock was at a 52-week low of $60.50. Fast-forward a year, and shares more than doubled to hit a high of $157.54 in June.
But after announcing results for its fiscal third quarter, ended May 30, Micron's stock price plunged. Does this create an opening to buy shares, or does the price drop suggest a reason to avoid investing in Micron?
Source Fool.com
Micron Technology Inc. Stock
€102.54
-2.660%
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 137 € shows a positive potential of 33.61% compared to the current price of 102.54 € for Micron Technology Inc..
