#2 - Micron Technology (NASDAQ:MU)
Micron Technology Inc. (NASDAQ: MU) is up about 19.5% in 2024. That’s a solid return, but if you’re an investor, your feelings about MU stock will depend on your entry point. The stock is down approximately 35% from its 52-week high.
Analysts forecast a consensus price target of $143.04, which is a 45% gain from the MU stock price on December 12. To support that price point at the stock’s current valuation of approximately 12x forward earnings, analysts believe the company’s FY2025 earnings per share (EPS) will be well above the company’s guidance of $4.89 per share.
The bullish case for Micron comes from the anticipated demand for AI applications. Micron’s high-bandwidth memory (HBM) chips are a key component of NVIDIA’s H200 and Blackwell chips. That speaks well to future demand.
However, Micron has short-term concerns that are focused on the incoming administration's tariff policies and what they could mean for the company’s business in China, which is already affected by more competition.
About Micron Technology
Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
Read More - Current Price
- $99.34
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 2 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $135.24 (36.1% Upside)
