2024-07-10 12:36:55 ET
Summary
- Micron Technology, Inc. stock has rallied due to AI narrative, but recent dip prompts consideration for buying opportunity.
- Micron is not a suitable alternative to Nvidia Corporation stock due to lower growth, profitability, and competition.
- Micron's current valuation may not be justified, but potential entry points for investment exist based on technical analysis.
Thesis Summary
Micron Technology, Inc. ( MU ) has rallied strongly in the last year on the back of the AI narrative.
The latest earnings gave us a dip in the stock. Is this a good chance to buy?
Investors looking for the next Nvidia Corporation ( NVDA ) or a good Nvidia alternative, might be tempted, and while I don’t completely dislike Micron, this is not the next Nvidia....
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For further details see:
Micron: Not An Nvidia Alternative