What's Going On With Micron Technology Stock?

Micron Technology, Inc. MU shares are trading higher Friday after Mizuho analyst Vijay Rakesh maintained Micron with a Buy rating and raised the price target from $100 to $105.

The Details:

Mizuho highlighted Micron’s improving margin profiling and high-bandwidth memory tailwinds as factors in its price target increase.

Micron shares are trading at 52-week highs as semiconductor stocks continue to climb on increasingly widespread adoption of artificial intelligence. 

Micron announced on Tuesday that Samsung Electronics Co. SSNGY has selected its LPDDR5X memory and UFS 4.0 mobile flash storage for specific devices within the Galaxy S24 series, an integration that brings AI functionalities to mobile users worldwide. 

On Monday, Micron announced it has begun volume production of the 24GB 8H HBM3E solution that will be part of Nvidia Corporation‘s NVDA H200 Tensor Core GPUs. Micron said the HBM3E leads the industry with approximately 30% lower power consumption compared to competitive offerings.

Mizuho believes Micron is ramping with Nvidia’s H200/B100 and looking to B200 into 2025 and beyond as a
strong roadmap for the company.

Related News: Dell Reports Better-Than-Expected Q4 Results Driven By AI Server Demand

MU Stock Forecast 2030:

Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.

If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.

For Micron Technology, over the past 5 years, it's annualized stock performance is 17.55%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $214.35.

Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.

MU Price Action: According to Benzinga Pro, Micron shares are up 5.28% at $95.39 at the time of publication.

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