Cantor Fitzgerald Maintains Overweight Rating on Micron (MU), Keeps $155 PT

Micron Technology, Inc. (NASDAQ:MU) is one of the top tech stocks to buy now according to Goldman Sachs. On August 25, Cantor Fitzgerald maintained its “Overweight” rating and a price target of $155 for Micron. The decision was based on Micron’s strong position in the High Bandwidth Memory (HBM) market.

The firm believes Micron will maintain its competitive position in the HBM market due to its “performance/watt advantage” and “stable supply,” which ensures continued demand for its HBM products. They expect Micron to hold its ground even as Samsung gains HBM market share, primarily at the expense of Hynix rather than Micron.

The firm noted that Samsung faces significant technological hurdles in HBM production, including thermal/power issues, as well as poor yields. These challenges are expected to limit Samsung’s ability to overtake Micron’s market position. Cantor Fitzgerald emphasized that the HBM market will become more challenging as technology advances, particularly with the transition to HBM4E, which requires “customized logic base dies” and higher stacks. These complexities are seen as additional barriers for competitors and reinforce Micron’s strong position.

Micron Technology, Inc. (NASDAQ:MU) is a semiconductor manufacturer. It produces memory and storage solutions, including DRAM, NOR, and NAND flash products. These products are essential components for smartphones, personal computers, data centers, automotive systems, and industrial applications.

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