Analysts' average 12-month price target: $265.59 (20% upside potential).Analysts' consensus recommendation: 1.37 (Strong Buy).MU remains one of the S&P 500's best stocks, in the analysts' eyes, as a result. With a strong history of outperformance and a bright future for sales and profits, many analysts remain bullish on this stock despite challenges in the semiconductor space recently. and European customers confidence they can avoid future disruptions. Micron recently unveiled a $150 billion global expansion plan, which is sure to give it an even more attractive geographic base that will give U.S. This has proven to be a powerful value proposition to policymakers who are increasingly interested in "strategic autonomy" amid uncertainty around supply chains caused by the pandemic and the invasion of Russia. chipmaker headquartered in Boise, Idaho, with major facilities in Texas, Utah and California. Those are impressive figures in any environment, but are simply jaw-dropping numbers considering the lingering supply chain disruption issues that the global chip industry continues to face. Revenue is set to grow by more than 20% both this fiscal year and next, with even larger expectations for earnings-per-share expansion (58% this year, 31% in FY2023). Micron is now the world's third-largest DRAM chipmaker and its fifth-largest flash memory chipmaker.Īnd it's not slowing down. Semiconductor giant Micron Technology ( MU, $73.32) is one of several beaten-down technology stocks that the analyst community remains very bullish on in 2022.įirst, some history: MU stock has shot up well more than 800% over the past decade – more than four times the returns of the S&P 500 – thanks to consistent expansion in both the top and the bottom line. Analysts' average 12-month price target: $110.00 (50% upside potential).Analysts' consensus recommendation: 1.39 (Strong Buy).
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