From Nasdaq: 2024-05-09 14:12:14

1. The DRAM market is experiencing a remarkable surge in demand, with a projected compound annual growth rate of 22.7% by 2029, driven by DDR5 technology. Micron Technology leads this trend with cutting-edge DDR5 memory and AI-driven demand, positioning it as a top semiconductor stock.

2. Analysts anticipate a “super cycle” for Micron as high bandwidth memory’s promising gross margin potential and rising DRAM prices boost the memory chipmaker’s prospects. Micron’s Q2 earnings beat projections, and it plans to receive $6.1 billion in grants to establish chip plants in the US.

3. Baird upgraded Micron Technology’s stock to “Outperform” with a price target of $150, citing a bright future in the memory sector. Analysts expect strong DRAM pricing and premium DDR5 memory demand to drive growth, especially with Micron’s HBM3E memory projected to contribute significantly to revenue.

4. The average analyst price target for Micron Technology is $127.07, indicating a potential upside of 7.3%. With a Street-high target price of $225, the stock could rally as much as 90.1%. Investors are bullish on Micron’s growth prospects in the semiconductor industry.



Read more at Nasdaq: 1 Top Semiconductor Stock to Buy for ‘Super Cycle’ Upside