TECH - Micron Technology Poised for Growth On Strong AI Demand As Industry Enters The Most Significant Memory Cycle: Analyst | Benzinga
Rosenblatt analyst Hans Mosesmann reiterated Micron Technology Inc (NASDAQ:MU) with a Buy and a $140 price target.
The analyst expects Micron to deliver a beat and raise on Wednesday, March 20, on AI-driven segment demand, a bottoming in the broader markets (recovery in the second half of calendar year 2024) amid the industry’s disciplined supply memory posture.
As the industry enters the most significant memory cycle, the setup is a narrative that will be fed this week at Nvidia Corp’s (NASDAQ:NVDA) GPU Technology Conference (GTC), given that AI compute platforms cannot scale without DRAM content and high-performance HBM, he said.
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