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Why Micron Technology Stock Can Break Higher From 20-Year Highs

TheMotleyFool

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Why Micron Technology Stock Can Break Higher From 20-Year Highs

Shares of Micron Technology (NASDAQ: MU) have shot up to 20-year highs this fall thanks to a couple of price target upgrades by Wall Street analysts, who predict that the memory specialist has more upside to offer on the back of higher demand from data centers and 5G smartphones.

Deutsche Bank and Mizuho Securities have raised their per-share price targets to $70, indicating an upside of around 10% from Micron's current stock price. But it wouldn't be surprising to see the memory specialist break higher and surpass Wall Street's expectations. Let's see why.