Wells Fargo Keeps Buy Rating on Micron Technology (MU), Keeps $130 PT

On May 17, Aaron Rakers from Wells Fargo reiterated a Buy rating on Micron Technology, Inc. (NASDAQ:MU), keeping the price target at $130 per share. The analyst remains positive due to Micron’s market position and growth potential. The analyst cited the growing demand for the Data Center segment, which is key to MU’s growth and indicates a favourable supply-demand dynamic.

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A recent TrendForce report projects a 3% to 8% PC DRAM price increase in Q2 2025 sequentially, fueled by higher demand and low inventory. DRAM and NAND pricing improvements will potentially have a positive impact on Micron’s Q3 FY2025 results, especially in its AI-driven High Bandwidth Memory (HBM) segment. JP Morgan has also highlighted strong demand in the data center sector, which is driving demand for HBM and data center solid-state drives (SSDs). MU is expected to report another record revenue in the upcoming quarter.

Micron Technology, Inc. (NASDAQ:MU) is a leading player in the AI industry. The company develops high-performance memory and storage solutions, such as DRAM and NAND. These are important devices used for running and training AI models across data centers, consumer electronics, and edge devices.

While we acknowledge the potential of MU to grow, 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 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure. None.