TECH - Micron Seagate Western Digital Poised for Upswing Driven by NAND Price Surge Analyst Forecasts | Benzinga
Mizuho analyst Vijay Rakesh had a Buy rating on Micron Technology, Inc (NASDAQ:MU) with a price target of $100.
Rakesh had a Buy rating on Seagate Technology Holdings Plc (NASDAQ:STX) with a price target of $100.
Rakesh had a Buy rating on Western Digital Corp (NASDAQ:WDC) with a price target of $$66.
The March quarter is witnessing a notable acceleration in NAND contract pricing, with a 30% quarter-over-quarter increase, surpassing both previous estimates and the consensus expectation of a 10% rise.
The analyst stated that this trend will likely continue through 2024, with projected quarterly increases in NAND contract pricing and yearly growth in NAND content by 10-15%.
AI handsets may see a significant rise in NAND storage, potentially reaching 1-2TB, doubling the current capacity.
Additionally, as per Rakesh, AI training servers are likely to benefit from substantial DRAM gains, especially with High Bandwidth Memory (HBM).
The industry’s NAND Capital Expenditures (Capex) are predicted to remain conservative, with no significant increases through 2024, indicating ...