Micron Q1 Review: Strong AI Demand Means I'm Still Bullish (Rating Upgrade)
Portfolio Pulse from
Micron Technology's stock dropped 16% due to weaker NAND and mobile orders, but AI and data center DRAM markets remain strong. The company's forward P/E ratio is below the sector median, offering a buying opportunity with a 108% upside potential.
December 20, 2024 | 7:15 am
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Micron's stock fell 16% due to weaker NAND and mobile orders, but AI and data center DRAM markets remain strong. The forward P/E ratio is below the sector median, suggesting a buying opportunity with significant upside potential.
The 16% stock drop is attributed to weaker NAND and mobile orders, not AI-related issues. Strong demand in AI and data center DRAM markets, coupled with a low forward P/E ratio, suggests a potential buying opportunity with significant upside.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100