Posted 4/9/2024, 3:50:32 AM
Micron Poised for Strong Growth as AI Memory Demand Surges
- Micron Technology produces computer memory and data storage that are critical for AI and advanced computing to function properly.
- Demand for Micron's high-bandwidth memory (HBM) chips is expected to surge as AI expands, driving significant revenue growth.
- Micron stands to benefit from integration of AI into smartphones, PCs, and smart devices, boosting demand for its memory chips.
- Analysts rate Micron stock a Buy with strong growth expected - EPS could hit $1.34 in fiscal 2024 on sales of $25.35 billion.
- Compared to expensive stocks like Nvidia, Micron offers better relative value with higher growth prospects, making its call options attractive.