Micron Technology Corporation Nasdaq: Mo stocks have She was struggling To catch their breath after a sharp 25% decrease During the last week. The sale was followed by a harsh Earnings report and broader market jitters as Fed downplays interest rate cut expectations. Stocks generally have It had a difficult ending For this year, however, Micron’s decline stands out. Stock is now It is trading near a strong support line, and is back at levels not seen since early 2021. For those of us on the sidelines, it is tempting to see this as a golden entry opportunity. But before we jump in, let’s… Take a closer look Where Micron stands today.
With a market capitalization of $95 billion, it is a major player in both memory and storage solutions From her is critical to the continued development of AI. While the stock appears to be far from its June highs, There are several reasons investors He should be excited.
Basic performance
Micron technology today
Micron technology
(As of 05:45 PM ET)
- 52 week range
- $79.15
▼
$157.54
- Dividend yield
- 0.54%
- P/E ratio
- 125.46
- Price target
- $135.24
First, let’s take a look at microns Latest earnings report. Company easily It beat expectations last week for both the top and bottom lines. However, the weak outlook for the coming quarter has raised concerns among investors. Specifically, microns It is a prediction Adjusted earnings are between $1.33 and $1.53 per share, well below the consensus estimate of $1.92. Likewise, its revenue guidance came in at $7.7 billion to $8.1 billion in Below Wall Street’s target of $8.99 billion.
However, there is still reason for optimism. CEO Sanjay Mehrotra noted “which”While consumer-oriented markets are weaker in the near term, we expect a return to growth in the second half of our fiscal year. Mehrotra also He highlighted Micron’s market share gains in high-margin segments and its strategic position to capitalize Artificial intelligence-based growth. Investors should look for the stock to continue its recovery once the broader market digests the latest news.
Bullish analyst updates
Micron Technology Stock Forecast Today
$135.24
58.53% upModerate purchase
Based on 26 analyst ratings
| High expectations | $250.00 |
|---|---|
| Average expectations | $135.24 |
| Low expectations | $67.00 |
Micron Technology stock forecast details
In a note to clients, the Barclays team weighed in on this possibility as they reiterated their buy rating on Micron, and they’re not the only ones. Multiple bullish updates from analysts indicate confidence in the stock’s long-term potential despite volatility in the company’s future guidance. Piper Sandler and Cantor Fitzgerald also came out with buy ratings, citing Micron’s strong fundamentals and exposure to artificial intelligence.
maybe The most compelling update came from JPMorgan Chase. Their team status Target price is $145which, from where the stock was trading Monday morning, indicates an incredible 70% rally. The fact that analysts are holding on to their buy ratings despite the near-term turmoil underscores their belief that this… This is stock Worth watching closely.
Potential concerns
However, it’s unlikely to be easy for Micron, and investors should be aware of some remaining risks. While most analysts maintained their buy ratings, most also lowered their price targets in light of the company’s dimming near-term outlook. There’s also the fact that not all stocks are rated a Buy, with Morgan Stanley maintaining an equal weight rating. However, The reduced price target of $98 remains above Micron’s recent close of $85, suggesting the stock may… Be oversold.
Share
The final piece of the puzzle supporting the upward movement is the technical setup, which adds another layer of excitement. One key indicator, the Relative Strength Index (RSI), shows Micron entering oversold territory as it drops to 34. For context, an RSI below 30 typically indicates that a stock is extremely oversold and due for a bounce. While Micron has not reached that threshold yet, it is within striking distance, and this, when considered alongside the other factors mentioned above, only lends itself to a rally-back narrative.
Investors should take a look Some bouncing gains Heading into 2025, supported by strong support from analysts. With AI remaining a central driver of growth, Micron’s long-term outlook is hard to ignore. For those who want to be brave, combination of The low price and strong technical support could make 2025 a banner year for this stock.
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