1 Super Semiconductor Stock to Buy Hand Over Fist in 2024 (and Beyond)
The semiconductor sector received a lot of attention in 2023, mainly because Nvidia stock surged 237% on the back of demand for its data center chips for artificial intelligence (AI) workloads.
But Nvidia's success masked substantial weakness in other areas of the semiconductor industry. Economic headwinds like high inflation and rising interest rates forced consumers to spend less money in segments like personal computing and gaming, which sent demand for traditional chips plummeting.
Micron Technology (NASDAQ: MU) was a poster child for that weakness earlier this year, but its recent financial results for the fiscal 2024 first quarter (ended Nov. 30) suggest a comeback is underway. Here's why it's time to buy the stock.
Source Fool.com
Micron Technology Inc. Stock
€130.44
-3.240%
Our community is currently high on Micron Technology Inc. with 86 Buy predictions and 5 Sell predictions.
As a result the target price of 138 € shows a slightly positive potential of 5.8% compared to the current price of 130.44 € for Micron Technology Inc..
