Stifel Affirms Buy Rating on Micron (MU) on Strong DRAM Demand

Micron Technology, Inc. (NASDAQ:MU) is one of the 12 best cryptocurrency and blockchain stocks to buy. On June 20, Stifel reiterated a ‘Buy’ rating on the stock and a $130 price target. The research firm affirms the bullish rating ahead of the company’s fiscal third-quarter results.

Stifel Affirms Buy Rating on Micron (MU) on Strong DRAM Demand

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Stifel expects the company to deliver results that exceed guidance and consensus estimates. The firm conviction for solid results stems from Micron Technology’s strong momentum, with revenue reaching $31.32 billion over the last 12 months. In addition, the research firm expects the company to have benefited from the pull forward of PC and home production as manufacturers take advantage of exemptions of higher reciprocal tariffs.

The research firm expects Micron to issue fourth-quarter gross margins higher by 200 to 300 basis points into the upper 30% range. Expectations of a solid fiscal fourth quarter stem from strong DRAM demand, especially for high-capacity DRAM and LPDDR5X. Stifel also expects Micron Technology to benefit from higher pricing.

Micron Technology, Inc. (NASDAQ:MU) is a semiconductor company that produces memory and storage solutions crucial for the performance of blockchain and cryptocurrency technologies.

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