Where Will Micron Technology Be in 5 Years?
Shares of Micron Technology (NASDAQ: MU) have rocketed higher over the past year, jumping by an impressive 831% as of this writing. The chipmaker has been reaping the benefits of the massive surge in memory demand.
Its revenue and earnings have been growing exponentially, powering the stunning rally in Micron stock. However, you may be wondering whether Micron has room to move higher after its astronomical run. After all, the stock's 12-month median price target of $1,100 suggests that it could drop 3% from current levels. But what's worth noting is that 46 of the 49 analysts covering Micron rate it as a buy.
In fact, I won't be surprised to see analysts raising their price targets given the demand-supply conditions in the memory industry. More importantly, the favorable industry factors driving Micron's growth are likely to persist in the long run. That's why it would be a good idea to take a hard look at Micron's prospects over the next five years to understand how profitable a long-term investment in Micron could be.
Source Fool.com
Micron Technology Inc. Stock
The stock is one of the favorites of our community with 160 Buy predictions and 1 Sell predictions.
As a result the target price of 1293 € shows a very positive potential of 61.32% compared to the current price of 801.5 € for Micron Technology Inc..
