Micron tumbles as AI revenue surge falls short of lofty expectations

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Go back to Micron tumbles as AI revenue surge falls short of lofty expectations

Wells Fargo Reiterates Overweight Rating on Micron Technology (MU)

June 28, 2024 5:21 AM EDT

Wells Fargo analyst Aaron Rakers reiterated an Overweight rating and $190.00 price target on Micron Technology (NASDAQ: MU).

The analyst comments "Gov't Incentives: During F3Q24 MU received $33M in gov't incentives to offset capex vs. $149M in F2Q24; $184M a yr ago. MU now... More

Cantor Fitzgerald Reiterates Overweight Rating on Micron Technology (MU)

June 27, 2024 7:58 AM EDT

Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and $180.00 price target on Micron Technology (NASDAQ: MU).

The analyst comments "While May Q EPS results came in better than consensus ($0.62 vs. cons $0.48), the August Q EPS guide ($1.08), while better than consensus ($1.02), was below buyside expectations ($1.20+) sending shares lower post-close. Obviously this is disappointing but clearly fits with traditional conservatism from Microns management team. All eyes were on rumored poor yields for Microns HBM3E which management dismissed highlighting greater than $100M in revenues in the May Q at GMs that exceeded overall... More

CFRA Reiterates Buy Rating on Micron Technology (MU)

June 27, 2024 7:50 AM EDT

CFRA analyst Angelo Zino reiterated a Buy rating and $170.00 price target on Micron Technology (NASDAQ: MU).

The analyst comments "We keep our 12-month target at $170, on a P/E of 13.5x our CY 25 EPS view, near historical. We raise our FY 24 (Aug.) EPS to $1.17 from $1.04 while... More