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Citi Upgrades Micron Stock Ahead of Earnings, Citing AI-Driven Demand
Citi Upgrades Micron Stock Ahead of Earnings, Citing AI-Driven Demand
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BTCCSquare news:
Citi analyst Christopher Danely raised Micron's price target to $175, sparking an 8.9% intraday surge. The upgrade anticipates strong Q4 guidance fueled by AI-driven demand for memory chips, with NAND sales projected to hit $29 billion by 2029.
DRAM and NAND markets show tightening supply against robust data center demand. Micron's valuation at 15x forward earnings reflects optimism, though some question whether AI growth is already priced in.
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