Is Micron Stock Going to $1,625? 1 Wall Street Analyst Think So.
Micron still has plenty of upside potential.
Overview
The Wall Street analyst who sparked a breakout rally in Micron (NASDAQ:MU) stock back in May is back with an update.
UBS's Timothy Arcuri reiterated his buy rating and price target of $1,625 in a note this week, ahead of the memory-chip maker's fourth-quarter earnings report on Sept. 30.
Details
Micron shares have skyrocketed over the last year as the company has been one of the biggest winners in the memory chip shortage sparked by the AI boom. Its revenue is growing by triple digits, and its operating margins have expanded to 80%, a rare feat for any company and a sign of how high memory prices have gone.
Source
Originally published at www.fool.com.
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