Is Micron Stock Going to $500?
Micron Technology (NASDAQ: MU) has recently become one of the hottest artificial intelligence (AI) stocks on the market, with shares already up by 50% so far this year amid soaring demand for data center hardware. The company's high-bandwidth memory chips have become integral for training and running large language models (LLMs).
That said, with a stock price of $428 at the time of writing, Micron is now worth $470 billion. This valuation makes it one of the largest companies in the world despite operating in an industry typically known for weak margins and extreme cyclicality. Let's dig deeper to find out if Micron can maintain its momentum and potentially hit a stock price of $500 this year.
Big tech companies are rushing to build AI data center capacity at a blistering rate, with Wall Street expecting the top four hyperscalers to pour a whopping $700 billion into capital expenditures this year alone. Some of the spending will go to Micron's memory hardware. These devices help AI companies store the training data for LLMs while also providing the quick working memory they need to sift through already trained data to answer user queries (a process called inference).
Source Fool.com
Micron Technology Inc. Stock
The stock is one of the favorites of our community with 148 Buy predictions and 1 Sell predictions.
As a result the target price of 432 € shows a slightly positive potential of 15.71% compared to the current price of 373.35 € for Micron Technology Inc..
