AI Demand, Positive Chinese Market Boost Micron's Pricing Dynamics Ahead Of Earnings, Says Analyst
Portfolio Pulse from Anusuya Lahiri
Wedbush analyst Matt Bryson reiterated an Outperform rating on Micron Technology, Inc (NASDAQ:MU) with a price target of $80. Bryson sees a positive shift in Micron's pricing dynamics due to increased demand for AI, positive seasonal effects in the Chinese consumer retail space, and a pickup in Chinese builds at certain handset vendors. He projects Q4 revenue of $3.90 billion and an adjusted EPS loss of $(1.18), and FY23 revenue of $15.43 billion and an adjusted EPS loss of $(4.56).
September 21, 2023 | 5:39 pm
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Micron Technology's pricing dynamics are expected to improve due to increased AI demand and positive market trends in China. Wedbush analyst maintains Outperform rating with a price target of $80.
The news directly mentions Micron Technology and provides an analysis from a Wedbush analyst who maintains an Outperform rating on the company. The analyst cites increased demand for AI and positive market trends in China as factors that will improve Micron's pricing dynamics. This is likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100