11 Must-Watch AI Stocks on Wall Street

Page 2 of 10

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

Number of Hedge Fund Holders: 94

Micron Technology, Inc. (NASDAQ:MU) is one of the 11 Must-Watch AI Stocks on Wall Street. On October 27, Citi analyst Christopher Danely raised the firm’s price target on the stock to $275 from $240 and kept a “Buy” rating on the shares. According to the firm, there is a rising AI demand for the stock.

In particular, Citi believes that DRAM pricing will be up 25% Q4 relative to Q3. This is the highest quarter-over-quarter increase since the 1990s.

In an investor note, the analysts elaborated that artificial intelligence demand and limited supply have caused DRAM spot prices to rise almost 50% in the last two weeks. This higher pricing is driving Micron’s earnings up 20% quarter-over-quarter.

“We raise our already above-Consensus estimates and price target from $240.00 to $275.00 and maintain our Buy rating on MU.”

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

Page 2 of 10