Goldman Sachs Initiates Micron (MU) with a Neutral Rating

Micron Technology, Inc. (NASDAQ:MU) is one of the Best Non-Mega Cap NASDAQ Stocks to Buy Right Now. Goldman Sachs has initiated coverage of Micron Technology (NASDAQ: MU) with a Neutral rating and a $130 price target, reflecting a cautious yet steady outlook for the broader semiconductor space. The move comes as part of the firm’s wider coverage launch on U.S. semiconductor capital equipment, storage, and foundry sectors.

In a note to investors, Goldman analysts described the semiconductor capital equipment industry as being in a “mid-cycle” phase, marked by a mix of supportive and challenging forces. The firm expects revenue across the sector to remain relatively stable through 2026, with limited upside catalysts in the near term.

Micron, a leading player in the memory and storage market, sits at the center of several key industry trends. Goldman sees signs of an eventual recovery in the NAND flash memory market, a segment that has faced pricing and demand pressures in recent years. The firm projects a rebound in NAND into 2026, offering a potential boost for Micron over the long term.

Despite some optimism, Goldman’s analysts believe the current environment presents more downside than upside risk overall, prompting the Neutral stance. However, they also noted that China may be more of a growth opportunity than a threat for U.S. semiconductor firms, given rising domestic demand.

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