Is Micron Starting an Nvidia-Style Run?
Micron Technology (NASDAQ: MU) reports surging demand for memory in data centers, and that is helping drive the stock price up more than 553% over the past year. The company's revenue guidance of $33.5 billion for the current quarter is almost equal to its total revenue in the prior fiscal year.
That kind of acceleration is similar to what Nvidia experienced early in the data center boom, when exploding demand for artificial intelligence (AI) chips pushed data center revenue sharply higher. Over the last five years, its data center revenue increased by more than 1,000%, driving the stock up roughly 1,220% at the time of writing.
Image source: The Motley Fool.
Source Fool.com
Micron Technology Inc. Stock
€799.00
3.560%
The stock is one of the favorites of our community with 148 Buy predictions and 1 Sell predictions.
As a result the target price of 809 € shows a slightly positive potential of 1.25% compared to the current price of 799.0 € for Micron Technology Inc..
