According to analyst Hans Mosesmann from Rosenblatt, Micron Technology Inc (NASDAQ: MU) is expected to surpass expectations on March 20 due to AI segment demand and market recovery. He maintains a Buy rating for the company with a price target of $140. Mosesmann believes that the industry’s disciplined supply memory posture will lead to positive results in the coming months.
Other analysts like C J Muse from Cantor Fitzgerald and Tom O’Malley from Barclays also maintain bullish ratings for Micron, with Muse raising the price target to $120. MU shares gained by 65% in the past year and are considered a favorable investment option by analysts. Share exposure can be gained through various ETFs such as REX FANG & Innovation Equity Premium Income ETF (NASDAQ: FEPI) and Invesco Semiconductors ETF (NYSE: PSI).
Mosesmann considers Micron as one of the top cyclical picks in the current memory cycle, as the industry moves towards one of the biggest cycles in history. The upcoming GPU Technology Conference is also expected to play a crucial role in highlighting Micron’s competitiveness in the market, with its design momentum in HBM3E technology giving it a significant market share advantage over competitors. Analysts are forecasting strong earnings for Micron based on its performance and market trends. As of the last check on Monday, MU shares were trading at $93.55, up by 2.32%.
