Micron rises 13% as strong forecast impresses AI-hungry investors
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Bernstein SocGen Group Reiterates Outperform Rating on Micron Technology (MU)
September 27, 2024 5:52 AM EDTBernstein SocGen Group analyst Mark Li reiterated an Outperform rating and $140.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Near-term pricing/margins are above our expectation & surely better than feared. FQ4 results were solid & FQ1 revenue guide beat by ~5%. Though many expected an ASP drop, the guided 10-15% QoQ revenue growth implies an ASP increase, as bit shipment was guided to be some growth for DRAM & flattish for NAND QoQ. Besides pricing, mix improvement from more... More
