China Unable To Chip Off Micron's Prospects: 4 Analysts Remain Bullish On Outlook
Portfolio Pulse from Priya Nigam
Despite a decline in Micron Technology Inc's (NASDAQ:MU) shares, four analysts remain bullish on the company's outlook. The analysts from Needham, Raymond James, Rosenblatt Securities, and Bernstein maintained their positive ratings and raised their price targets. They believe that the company's strong fiscal third-quarter results and solid guidance outweigh the potential negative impact of a decision by the Cyberspace Administration of China (CAC) that could hurt sales by ~12%.
June 29, 2023 | 2:59 pm
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Analysts remain bullish on Micron Technology despite potential sales impact from a decision by the Cyberspace Administration of China. The company's strong Q3 results and solid guidance are seen as positive indicators.
The analysts' positive outlook on Micron Technology, despite potential negative impacts from China, indicates their confidence in the company's performance. This could potentially influence investors to maintain or increase their investments in the company, which could drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100