Posted 3/7/2024, 9:46:14 PM
Micron Stock Hits Record High as Analysts See AI Boom Ahead
- Micron Technology shares reached a record high Thursday as analysts raised price targets, citing Micron's position in the AI boom
- Goldman Sachs raised Micron's target price to $112 from $103, calling it an "under-appreciated AI beneficiary"
- Stifel upgraded Micron to "buy" with a $120 target, saying Micron "now has a seat at the table" as AI requires high-bandwidth memory
- Micron shares have risen over 20% in 2024, but gains lag peers like Nvidia and Arm which have nearly or more than doubled
- Micron began mass production of a high-bandwidth memory chip for Nvidia's AI graphic processing units in February