Micron Tech Has Strong Demand And Competitive Edge For 2024, Deutsche Bank Upgrades To Buy
Portfolio Pulse from Vandana Singh
Deutsche Bank has upgraded Micron Technology Inc (MU) from Neutral to Buy with a price target of $85 from $65, indicating a potential upside of ~20%. The upgrade is due to aggressive production cuts, strong demand, particularly in AI servers, and improvements in DRAM prices. Micron's recent product announcements and its potential to be a secondary supplier for NVIDIA Corporation (NVDA) in H2 2024 further solidify its competitive position.
September 18, 2023 | 4:49 pm
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POSITIVE IMPACT
Micron Technology's stock has been upgraded by Deutsche Bank due to strong demand, aggressive production cuts, and improved DRAM prices. The company's potential to be a secondary supplier for NVIDIA in H2 2024 further strengthens its position.
The upgrade by Deutsche Bank indicates a positive outlook for Micron Technology. The strong demand, aggressive production cuts, and improved DRAM prices are likely to drive the company's stock price up in the short term. Additionally, the potential to be a secondary supplier for NVIDIA in H2 2024 further solidifies its competitive position, which could also positively impact the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
NVIDIA Corporation could potentially have Micron Technology as a secondary supplier in H2 2024, which could positively impact its operations.
The potential for Micron Technology to be a secondary supplier for NVIDIA in H2 2024 could positively impact NVIDIA's operations by ensuring a steady supply of necessary components. This could potentially lead to a positive impact on NVIDIA's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50