#3 - Micron Technology (NASDAQ:MU)
The growth of high-performance chips requires high-bandwidth memory, which is a good reason to choose Micron Technology Inc. (NASDAQ: MU). The company is one of the leading suppliers of the dynamic random-access memory (DRAM) needed inside graphic processing units (GPUs), notably those from NVIDIA.
That’s one reason Micron’s capacity is sold out through 2025. Like NVIDIA and AMD, Micron continues to launch new products with expanded memory that will power even more powerful GPUs.
MU stock sold off sharply in June after its forecast disappointed investors. Memory products are seen as more of a commodity, so a lower forecast made the company’s high valuation untenable for many tech investors.
However, the stock has rallied approximately 20% since its September earnings report, in which it raised its forecast. In fact, analysts have a consensus price target of $142.85, which offers investors a 31% upside.
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
- $102.43
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 26 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $143.04 (39.6% Upside)
