Micron Technology Stock News

BOISE, Idaho, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU), announced today that it will hold its fiscal fourth quarter and full-year earnings conference call on Wednesday, September 25, 2024, at 2:30 p.m. Mountain time.

Micron Technology, Inc.'s fundamentals and share price have moved in opposite directions over the past three months, making its valuation extremely attractive. Valuation analysis shows Micron's P/E ratio will be slightly above 10 in FY 2025 and around 8 in FY 2026, indicating substantial undervaluation. Discounted cash flow (“DCF”) simulation also indicates substantial undervaluation.

An analyst reduced his target price on the computer memory specialist by $10. This followed management's remarks about fiscal first-quarter shipments.

Micron Technology's outstanding growth and valuation make the stock a terrific buy right now. The company is well-placed to capitalize on the secular growth of the AI hardware market.

Market corrections are nothing to fear. Instead, think of them as glorious opportunities.

Micron is a leader in the markets for DRAM and flash memory.

Nvidia's key suppliers have reported impressive results lately. Nvidia is set to release its quarterly results next week, and there is a good chance that it could deliver stronger-than-expected numbers.

During the current market correction and potential recession, volatility remains high with many investors now increasingly pricing in a potential market crash.