AI Demand Sparks Micron Rally: Mizuho's Bullish Take Ahead of Q2
TL;DR Summary
Top Mizuho analyst Vijay Rakesh reiterates Buy on Micron (MU) with a $480 target, citing AI-driven memory demand and tighter supply as memory pricing improves; he projects May-quarter revenue of $25B and EPS of $11.13, and August-quarter revenue of $27.2B and EPS of $12.25, underpinned by rising HBM3e demand and NAND transitions, while hyperscaler capex are seen rising about 59% YoY. Wall Street’s Strong Buy consensus anchors an average price target around $440.67 (about 8.7% upside).
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