2024-04-14 05:06:16 ET
Summary
- Wall Street analysts now love Micron stock.
- Micron is expected to benefit from the AI revolution and increased demand for its memory products.
- I will argue it is near/at its cyclical high under current conditions, judging by the stock price advancements and revenue growth.
- MU has historically experienced cyclical patterns of rapid growth followed by deep corrections, and I expect the same this round, too.
Wall Street loves MU now
Wall Street now loves Micron ( MU ) stock. The chart below summarizes the sentiment on MU between Seeking Alpha writers and Wall Street analysts. As seen, Seeking Alpha writers are already pretty bullish on the stock, giving it an overall rating of 3.5. Wall Street is even more bullish. Of the 37 analysts who wrote on it in the past 90 days, 22 of them recommended Strong Buy (i.e., 61% of them). Their overall rating is 4.3x....
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For further details see:
Micron: Sell Cyclical Stock Near Cyclical High