Micron Poised for Growth in AI and Data Centers, Fair Value Estimate of $96 per Share
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Micron's growth to be driven by surging AI demand and new HBM3 memory products, with data centers as a key growth area.
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Recovery expected in 2024, setting stage for robust growth in 2025. Stock currently undervalued.
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Recent results show signs of recovery after downturn. Strong growth guidance for FY24 with expectations of continual price increases.
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Valuation model based on growth assumptions and DCF analysis yields fair value estimate of $96 per share.
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Key risks include China trade restrictions and high capex spending, but overall growth opportunities remain significant in AI and data center markets.