Why Analysts See Micron (MU) Benefiting From the AI Data Center Boom

Micron Technology, Inc. (NASDAQ:MU) is one of the Trending AI Stocks on Wall Street. On September 11, Citi analysts raised their price target on the stock to $175 from $150 and reiterated their “Buy” rating.

The rating affirmation comes after an increase in demand for dynamic random-access memory (DRAM) chips and the company’s artificial intelligence exposure.

The analysts noted that they believe that the “continued memory upturn is being driven by limited production and better than expected demand, particularly from the data center end market.”

Micron’s fiscal fourth quarter earnings report is scheduled for September 23. The firm anticipates adjusted earnings per share of $2.62 and revenue of $11.20 billion, in line with overall analysts’ estimates.

However, guidance is projected to be above expectations driven by higher DRAM and NAND sales and pricing.

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.

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