Micron Technology, Inc.’s stock price takes a hit, dropping 6.03% to $144.19 – Is it time to buy?

Micron Technology, Inc. (MU)

144.19 USD -9.26 (-6.03%) Volume: 41.14M

Micron Technology, Inc.’s stock price currently stands at 144.19 USD, experiencing a -6.03% dip this trading session with a trading volume of 41.14M. Despite the recent decrease, the stock’s performance remains strong with a YTD increase of 68.96%, highlighting the firm’s resilience and potential for growth.

Latest developments on Micron Technology, Inc.

Leading up to today’s movements in Micron Technology‘s stock price, analysts have been adjusting their price targets ahead of earnings, with one analyst expecting “only positive news” for the company. Micron has also been making strategic moves, such as planning a major expansion in the U.S. and considering production in Malaysia to compete with SK Hynix. The company has faced challenges, including a $480 million infringement lawsuit in an apparent “AI proxy war.” Despite this, Micron’s stock has been on the rise, with shares up 3.8% after an analyst upgrade and reaching a new 52-week high. With the chip industry emerging from a downturn, Micron’s rebound seems to be driving the stock price surge.

Micron Technology, Inc. on Smartkarma

Analysts on Smartkarma are bullish on Micron Technology, with Vincent Fernando, CFA highlighting Micron’s success in leapfrogging SK Hynix and Samsung in HBM DRAM for AI Servers. This could lead to a surge in traditional DRAM prices, benefiting companies like Nanya Tech. William Keating also predicts a record revenue year for Micron in 2025, with HBM revenue set to jump to “multiple” billions. Custom work on HBM solutions and LTAs with defined pricing could further boost Micron’s non-HBM products.

Additionally, Baptista Research notes Micron’s substantial demand for High Bandwidth Memory (HBM), with supply for 2024 already sold out and most of 2025’s capacity allocated. This is attributed to the product’s high performance specs and lower power consumption. Moreover, Caixin Global reports on Micron reaffirming its China expansion plan, expecting deeper cooperation with the Chinese government to boost foreign investment. Micron CEO Sanjay Mehrotra praised China’s efforts to improve the business environment for foreign companies, emphasizing the company’s commitment to expanding its presence in China.

A look at Micron Technology, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to Smartkarma Smart Scores, Micron Technology has a positive long-term outlook with high scores in Momentum and Resilience. Momentum score of 5 indicates strong market performance and investor interest, while Resilience score of 3 suggests the company’s ability to withstand economic challenges. Although the Value score is moderate at 3, the company’s overall outlook remains optimistic.

Micron Technology, Inc. is a leading manufacturer of dynamic random access memory chips, static random access memory chips, Flash Memory, and other semiconductor components. With its solid scores in Momentum and Resilience, the company is well-positioned for future growth and stability in the semiconductor industry. Despite lower scores in Dividend and Growth factors, Micron Technology‘s strong performance in key areas bodes well for its long-term success.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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