Investomail - Your weekly stock report

Here is one of the most promising stock forecasts we think you should know about.

$79.34
CURRENT PRICE

Micron Technology is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives. Its consumer products are marketed under the brands Crucial and Ballistix. Micron and Intel together created IM Flash Technologies, which produces NAND flash memory. Their current market cap is $88.97 billion.

Micron remains firmly positioned in a memory market as more products require chips that are experiencing a shortage right now. Many see the company's situation as a big reason why you should be buying their shares. The shortage could particularly benefit Micron in the DRAM memory market, where South Korean chipmakers Samsung and SK Hynix are its only competitors. DRAM made up about 68% of Micron's revenue in 2020. Additionally, the company claimed about 23% of the global DRAM market. The NAND sector is a bit more diversified thanks to the presence of Western Digital and its SanDisk subsidiary. However, Micron is one of the largest suppliers in this segment as well.

Micron's earnings for the first quarter of 2021 showed little difference from what the analysts were expecting. They reported earnings per share of $0.98, which is 3 cents more than the consensus estimate. They reported a slight beat of revenue estimates as well. Their Q1 2021 revenue came in at $6.24 billion compared to the estimated $6.23 billion Their next earnings report is scheduled for Jun 30, 2021.

Analysts from Deutsche Bank estimate Micron's stock to reach $110 in the next 12 months. The analysts at Wells Fargo also have high expectations for this stock with a price target of $115. Out of 24 analysts, 18 have given Micron a BUY rating and 6 a HOLD rating.

Disclaimer

Investomail does not provide financial advice and does not issue recommendations or offers to buy stocks or sell any securities. Information is provided 'as-is' and solely for informational purposes and is not financial advice. Investomail does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.