Why Micron Stock Exploded 40% Higher in September
Even before 's (NASDAQ: MU) earnings report on Sept. 23, shares of the memory chip manufacturer had already logged an impressive month-to-date gain. Strong results and guidance ultimately led the stock even higher to close out September. Micron stock gained 40.6% last month, according to data provided by S&P Global Market Intelligence, largely thanks to booming demand for artificial intelligence data centers.
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Two things related to AI are happening within the memory chip market. First, demand for high-bandwidth memory, a special type of dynamic random-access memory critical for AI accelerators, is exploding. Mega-deals involving OpenAI, , Nvidia, and other tech giants to build massive AI data centers will require equally massive quantities of HBM chips.
Source Fool.com
Micron Technology Inc. Stock
The stock is an absolute favorite of our community with 117 Buy predictions and no Sell predictions.
As a result the target price of 231 € shows a slightly positive potential of 16.8% compared to the current price of 197.78 € for Micron Technology Inc..
