10 AI Stocks in Focus This Week

5. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 105

Micron Technology, Inc. (NASDAQ:MU) is one of the 10 AI Stocks in Focus This Week. On December 2^nd, Wolfe Research raised its price target on the stock to $300 from $200 while maintaining an “Outperform” rating. The firm sees Micron on path to higher earnings price through 2027 and continued stock upside.

Micron is experiencing better-than-expected pricing trends, supported by improved server demand and stability in the handset and PC segments. Therefore, the firm has increased its estimates for the November and February quarters, along with out-year forecasts.

Analysts see an upside case to $30 earnings power as HBM demand ramps sharply in 2027, leading to further upside.

“Reiterate Outperform rating and increasing price target to $300. Our $300 price target is based on ~10× our CY27 upside case EPS of ~$30. We raise our MU estimates for NovQ/FebQ and out years, to reflect better than expected pricing trends, driven by better server demand and stability in handset/PC. While the stock has continued to move higher, following pricing trends, we see an upside case to $30 earnings power driven by a strong HBM ramp in CY27, creating a path for continued upside in the stock.”

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.