"Micron is the only U.S.-based manufacturer of DRAM and a primary U.S. manufacturer of NAND memory chips, making it a central player in the AI infrastructure buildout."
"The catalyst for the recent drop was a fear trade. On March 24, Google announced its TurboQuant algorithm, which significantly reduces memory usage in AI workloads."
"Wall Street is largely unmoved. Of 43 analysts covering Micron, 38 rate it Buy or Strong Buy, while just three rate it Hold and two rate it Sell."
"Revenue has run from $8.053 billion in Q2 FY2025 to $23.86 billion in Q2 FY2026, with Q3 FY2026 guidance calling for continued growth."
Micron Technology is currently trading at $357.22, while the Wall Street consensus price target is $527.60, creating a 47% gap. The recent decline in stock price is attributed to Google's TurboQuant algorithm announcement, which reduces memory usage in AI workloads, causing fears of decreased demand for memory chips. Despite this, analysts remain optimistic, with 38 out of 43 rating Micron as Buy or Strong Buy, and revenue projections continue to show strong growth.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]