Explore the latest developments concerning Micron Has Lost.
Micron Has Lost Over 40% Since June. Where Does Its Price Target Stand Now?
Micron (MU) plunged 16% Thursday to $670, yet 24/7 Wall St. sets a $914 target, implying 37% upside and a BUY rating.
Micron guided to record fiscal Q1 revenue of $61.5 billion after beating estimates eight straight quarters, leaving shares near 4x forward earnings.
NVIDIA (NVDA) trades at 37x earnings with $279 billion in supply obligations tied largely to memory, while Micron trades at 11x trailing earnings.
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Thursday's chip selloff knocked Micron Technology (NASDAQ:MU) down 15.81% in one session, to $669.51. The 24/7 Wall St. price target is $913.86, which means 36.5% upside. Our model rates the stock a buy with high confidence.
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