1 AI Stock With Nearly 100% Upside, According to 1 Wall Street Analyst
DA Davidson analyst Gil Luria initiated coverage of Micron with a buy rating and $1,000 price target, citing the AI infrastructure build-out's potential to lead to a longer-than-typical memory chip cycle. Micron's strategic shift to sign five-year sales deals for high bandwidth memory improves its visibility into future sales and earnings.
DA Davidson analyst Gil Luria initiated coverage of Micron with a buy rating and $1,000 price target. Luria believes the AI infrastructure build-out will lead to a longer-than-typical memory chip cycle. Micron's strategic shift to sign five-year sales deals for high bandwidth memory (HBM) improves its visibility into future sales and earnings. Luria forecasts Micron will generate $393 billion in revenue in its fiscal 2030. The stock trades at a forward price-to-earnings ratio below 5, despite revenue nearly tripling to $23.86 billion last quarter. With demand for AI computing power seemingly insatiable, demand for HBM is likely to remain high.
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