Micron (MU): The AI Memory Stock Analysts Say Could Rally Further

Micron Technology, Inc. (NASDAQ:MU) is a Must-Watch AI Stocks on Wall StreetOn 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.

While we acknowledge the risk and potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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