Micron Technology Inc. NASDAQ: Manchester United shares have fought catch your breath after spicy drop 25% over the past week. The sale followed hard The earnings report and broader market jitters as the Fed eased rate cut expectations. Shares usually have had a rough ending by year, but Micron’s fall stands out. Stock Now is trading near a solid support line, back to levels not seen since early 2021. For those of us on the outside, it’s tempting to view this as a golden opportunity to enter. But before we get started, let’s take a closer look in the place where Mikron is located today.
With a market capitalization of $95 billion, it is a key player in the memory and storage solutions market. of which is critical to the continued development of AI. And while stocks look a long way from their June highs, There are several reasons why investors must be excited.
Fundamental Performance
Micron technologies today
Micron Technology
(As of 3:57 p.m. ET)
- 52 week range
- $79.15
▼
$157.54
- Dividend yield
- 0.54%
- P/E ratio
- 125.83
- Target price
- US$135.24
First, let’s take a look at Micron. latest earnings report. Company easily exceeded expectations last week on both top and bottom lines. However, the weak forecast for the next quarter scared off investors. More precisely, Micron. predicts adjusted earnings range from $1.33 to $1.53 per share, well below the consensus estimate of $1.92. Similarly, revenue guidance of $7.7 billion to $8.1 billion came from V below Wall Street’s target of $8.99 billion.
However, there is reason for optimism. CEO Sanjay Mehrotra noted What “although consumer markets are weakening in the near term, we expect a return to growth in the second half of our fiscal year.” Mehrotra Also highlighted Micron’s increasing market share in high-margin segments and its strategic position to benefit from AI-powered growth. Investors should expect stocks to continue to recover once the broader market accepts the recent news.
Bullish Analyst News
Micron Technology stock forecast today
US$135.24
Growth potential 56.76%Moderate purchase
Based on ratings from 26 analysts
| High forecast | US$250.00 |
|---|---|
| Average forecast | US$135.24 |
| Low forecast | $67.00 |
Micron Technology Stock Forecast Details
In a note to clients, the Barclays team suggested this possibility by reiterating their Buy recommendation on Micron, and they weren’t the only ones. Numerous bullish analyst forecasts indicate confidence in the stock’s long-term potential, despite fluctuations in the company’s forecasts. Piper Sandler and Cantor Fitzgerald also issued a Buy rating, citing Micron’s strong fundamentals and exposure to AI.
Maybe, The most compelling message came from JPMorgan Chase. Their team installed target price US$145which, based on where the stock was trading Monday morning, indicates an incredible 70% upside potential. The fact that analysts are sticking to their Buy rating despite the near-term volatility underscores their confidence that this will happen. this is a promotion that worth a closer look.
Potential problems
However, things are unlikely to be smooth sailing for Micron, and investors should be aware of some remaining risks. While most analysts maintained a Buy rating, most also lowered their price targets in light of the company’s deteriorating near-term prospects. There’s also the fact that not all of them are rated Buy, with Morgan Stanley maintaining an Equal Weight rating. Despite this, his cut price target of $98 is still above Micron’s last close of $85, suggesting the stock could be oversold.
Participation
The final piece of the bullish puzzle is the technical setup, which adds another layer of excitement. One of the key indicators, the relative strength index (RSI), shows that Micron is entering oversold territory as its value fell to 34. For context, an RSI below 30 usually signals that the stock is extremely oversold and is due for a rebound. While Micron hasn’t reached that threshold yet, it is within reach, and that, when considered along with the other factors mentioned above, only furthers the comeback rally narrative.
Investors should pay attention some return income in early 2025, supported by strong analyst support. With artificial intelligence remaining a major growth driver, Micron’s long-term prospects are hard to ignore. For those who want to be brave, combination The reduced price and strong technical support could make 2025 a standout year for this stock.
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