Citi Research analyst Christopher Danely sees shares of memory-chip maker Micron reaching $85.
Micron Technology stock offers an attractive buying opportunity as the semiconductor industry recovers, says Citi Research.
After meeting with clients last week, “we had a difficult time getting traction on our Buy Micron call. Investors believe that Micron’s valuation already incorporates the upturn in DRAM,” he wrote. “We disagree.”Newsletter Sign-up The analyst noted memory pricing has started to recover as the major chip makers have cut production. He now predicts memory-chip prices will rise 10% quarter over quarter in the fourth quarter, and rally 32% year-over-year in 2024.
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