Micron Technology Poised for Growth Amid AI Memory Chip Demand
Mizuho analyst Vijay Rakesh maintains an Outperform rating on Micron Technology (MU) with a $265 price target, citing strong tailwinds from AI-driven memory demand. The company's leadership confirms robust positioning in High Bandwidth Memory (HBM) markets, with 40% of DRAM products expected to see margin expansion as pricing recovers in early 2025.
Supply constraints loom as 30-35% of Samsung and Hynix's production faces delays due to export controls, creating favorable conditions for Micron's Idaho and New York fabs to capture market share. HBM4 development progresses on schedule, with annual sales projected to more than double—solidifying Micron's role in the $160 billion AI accelerator market.