From Financial Modeling Prep: 2024-10-01 10:32:00

Cantor Fitzgerald analysts reiterated their Overweight rating on Micron Technology (NASDAQ:MU) with a $150 price target. Micron’s strong performance in the data center sector, driven by AI and traditional servers, is expected to boost November quarter guidance. The company anticipates mid-single-digit growth in server demand, with recovery in PCs and smartphones by mid-2024.

Micron’s shift to high-value, higher-margin solutions is a key growth driver. The company’s portfolio includes high-capacity server DRAM, LPDDR5, and eSSD, expected to generate multi-billion-dollar revenues by fiscal 2025. These offerings have structurally higher gross margins, highlighting Micron’s long-term potential for profitability.



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