MU - Micron Technology Stock Has 22% Upside According to 1 Wall Street Analyst. Is the Stock a Buy Near Its All-Time High?
2024-04-09 04:06:00 ET
There's little doubt that the advent of artificial intelligence (AI) will have far-reaching implications in technology circles, though it's also clear the effect will be staggered. One company that's just beginning to see AI's impact on its results is Micron Technology (NASDAQ: MU) , which provides memory and storage solutions that are integrated into other processors.
The stock is up 110% over the past year, but one Wall Street analyst believes there's still much more to come.
KeyBanc analyst John Vinh maintained an overweight (buy) rating on Micron stock while boosting his price target to $150. That represents a potential upside over the next 12 months or so for investors of roughly 22% compared to Monday's closing price. Channel checks suggest the company's HBM3E (High Bandwidth Memory 3E) chip is "meaningfully superior" to rival offerings in terms of power consumption and heat reduction.
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Micron Technology Stock Has 22% Upside, According to 1 Wall Street Analyst. Is the Stock a Buy Near Its All-Time High?