Micron Technology Stock News

Micron's stock slumped Monday, just as a longer-term bearish chart pattern appeared for the first time in more than two years, and as Morgan Stanley offered a downbeat outlook for the memory-chip market.

Morgan Stanley cut $40 off of its Micron price target this morning. With its $100 price target, Morgan Stanley thinks Micron stock is worth more than the $87 it currently costs, but there are risks.

Micron's Q3 2024 revenue surged to $6.8 billion, an 82% YoY increase, driven by AI and data center demand. DRAM contributed 69% of total revenue with 13% sequential growth, while NAND grew 32%, reflecting strong market positioning. AI-related products like high-bandwidth memory led to a 50% revenue increase in the data center segment, and continued growth is expected.

Micron's stock has dropped nearly 50% from its June highs, despite no negative news and improving fundamentals driven by AI demand. The current valuation of Micron does not reflect its strong fundamentals, presenting a potential buying opportunity with a solid margin of safety. This is supported by the DCF analysis. The recent sell-off appears overdone, especially when compared to peers.

Artificial-intelligence-focused chip makers are expected to grow briskly. But artificial intelligence requires servers, memory, and more -- so consider other stocks, too.

Memory chip maker Micron Technology Inc. NASDAQ: MU was the toast of the town when its stock was trading at $157.41 on June 18, 2024. The computer and technology sector leader was expected to be a huge benefactor of the artificial intelligence (AI) boom as it only made sense that its dynamic random access memory (DRAM) and NAND flash chips were a core component of AI infrastructure relying on m...

Micron Technology supplies memory chips for AI workloads, and Nvidia is one of its data center customers. DigitalOcean is building an AI cloud services platform specifically for small and mid-sized businesses.

Micron is benefiting from a cyclical upswing in the tech sector that's driving soaring demand for memory chips. Fiverr's business continued to grow even after its pandemic-generated boost ended.