Intuitive Code AI Downgrades Micron $63 Ahead of Earnings Report
Micron has been downgraded at a price of $63 after the company upgraded shares to Strong Buy at $9.85 naming it value investment of the decade. Micron share price has been soaring seeing its price target increased to $100 by main Wall Street. Is Micron really worth $100? What’s the best scenario for Micron going forward? Why has Micron turned into a hot darling stock?
Micron is an artificially intelligent long-term value investment. Autonomous Trading raised Micron (MU) price target at $27 maintaining a Strong Buy rating on shares. Micron is one of the cheapest stocks on the exchange. Meanwhile, its share price appreciated substantially demonstrating the value of investing in the markets using artificial intelligence.
Learn more by subscribing to AIBOT3 and AIBOT1
On today’s episode of the Tech Talk Tuesday podcast, Ryan McQueeney highlights the rapid growth of memory-chip maker Micron Technology MU and debates whether the stock could be worth $100 per share within the next year. On Monday, Micron received its most-bullish analyst call ever when Nomura Instinet raised its 12-month price target for the stock to $100 from $55. That projection represents about an 83% upside to MU’s Friday’s close and marks the highest price target out of the 26 research firms that cover the company, according to FactSet.
Nomura’s bullish sentiment is part of a broader trend of analysts becoming more optimistic about the stock. Within the past 60 days, we have seen eight revisions, with 100% agreement to the upside, for Micron’s full-year earnings estimates. The Zacks Consensus Estimate has moved 74 cents higher over that timeframe. Meanwhile, MU has emerged as one of Wall Street’s hottest stocks over the past two years, has gained well over 400% in that timeframe.
What Nomura is saying about Micron today, we know it since my upgrade to Strong Buy at $9.85. We have been long-term investors in Micron recommending massive investment every quarter.
Micron Technology, Inc. provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.