Analysts Stay Bullish on Micron Technology (MU)

Micron Technology, Inc. (NASDAQ:MU) is one of the 15 Best Aggressive Growth Stocks to Buy Right Now. On November 10, Mizuho analyst Vijay Rakesh reiterated an Outperform rating on Micron Technology, Inc. (NASDAQ:MU) with a price target of $265. This update came after virtual meetings with the company’s executives, including CFO Mark Murphy.

Rakesh pointed out that demand for high bandwidth memory (HBM) looks strong through 2026 and 2027. The analyst also noted that around 40% of Micron Technology, Inc.’s (NASDAQ:MU) DRAM business could see improvements in revenue and margins in the February quarter because of strong pricing trends.

Analysts Stay Bullish on Micron Technology (MU)

Mizuho is also optimistic about Micron Technology, Inc.’s (NASDAQ:MU) HBM roadmap, which includes AI-specialized HBM4e, custom HBM solutions, and in-memory computing capabilities. These should lead to an increase in DRAM content and an improvement in pricing.

The firm’s analyst noted that in the NAND flash memory business, capital expenditure is disciplined while AI server demand grows for QLC enterprise solid-state drives (eSSDs). Rakesh also noted that the supply of hard disk drives (HDDs) is tight.

Previously, on November 7, Wells Fargo analyst Aaron Rakers increased the price target on Micron Technology, Inc. (NASDAQ:MU) from $220 to $300 and kept an Overweight rating after hosting meetings with the company’s CEO, Sanjay Mehrotra and Executive Vice President of Global Operations, Manish Bhatia.

The research firm said these meetings confirmed its positive view of Micron Technology, Inc.’s (NASDAQ:MU) execution and strong market position as well as the memory industry outlook.

Micron Technology, Inc. (NASDAQ:MU) is a leading semiconductor technology company that is known for its innovative memory and storage solutions. The company offers a portfolio of high-performance DRAM, NAND, and NOR memory and storage products.

While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MU and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.