Company: Micron Technology (SYM: MU) The pullback in Micron Technology (SYM: MU) is a buy opportunity. Not only did it just catch strong support at its 50-day moving average again, it’s also technically oversold on MACD and Williams’ %R. From its last traded price of $133.15, we’d like to see it retest $150 initially. |
Oxford Club
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Helping, the company recently beat the top and bottom line of earnings thanks to demand for artificial intelligence. In addition, according to CNBC, “Management is confident about the road ahead and expects to generate record revenue in fiscal 2025, backed by artificial intelligence-driven opportunities.” Then Goldman Sachs reiterated a buy rating with a price target of $158. The firm also expects for “AI-driven demand and a disciplined supply to fuel better-than-consensus earnings growth in calendar year 2025.” Much of that bullishness is being driven by market share gains in high-bandwidth memory (HBM) and AI growth in Micron’s data center business. Even better, we have to consider that Micron provides memory solutions, specifically Dynamic Random Access Memory (DRAM) and flash memory or NAND. DRAM is the primary working memory for servers, PCs, and other devices. It stores data temporarily while the system is on. NAND retains data when a device is powered off. For instance, flash drives and Smartphones use NAND memory to retain data. That gets even more exciting once you consider that HBM, which falls under DRAM is used in data centers, which are seeing substantial AI power demand. |
Gulfport Analytics
AI Bubble Set to Pop on August 1st?
Are AI stocks in a massive bubble that’s ready to pop?
Will this AI boom end in tears, just like the dot-com bust in 2000?
Should you buy AI stocks like Nvidia…
Or is it too late?
Click here to see the answers from the legendary trader who predicted the rise of AI stocks five years ago.