Wedbush analyst Matt Bryson reiterated an Outperform rating on Micron Technology, Inc (NASDAQ: MU) with a price target of $80.
Micron reports on Sept. 27 after the close.
The analyst saw a meaningfully different outcome this quarter. While there are certainly still areas of weakness in the memory sector, Bryson saw a few positive inflections setting up more favorable dynamics in the first quarter of FY24.
Specifically, newer node DRAM was helped by demand for AI continuing to inflect upward, and requirements for DDR5 and HBM3 accelerated over Micron's fourth quarter. And while Micron hasn't yet produced HBM3, the inflection ...