Shares of computer memory maker Micron Technology (NASDAQ: MU) are marching higher as the week winds down Friday, topping 7% in 11:35 a.m. ET trading on the back of positive commentary from Wall Street. As Citigroup reports today, the price correction in DRAM "is drawing to a close."
Image source: Getty Images.
Citigroup made this pronouncement in a note covered on TheFly.com today, noting that higher demand for personal computers and servers is likely to boost demand for DRAM computer memory in Q4 2021 and into Q1 2022. The analyst thinks this will be a "positive catalyst" for Micron stock and thinks Micron is a buy at today's prices.
Source Fool.com