Is Micron Technology Stock Going to $1,500? The Bull Case Is Stronger Than You Think.
Yahoo Finance ·
Even with its impressive 740% return over the past 12 months, some analysts believe Micron Technology ( MU 5.68% ) could still go higher. Three analysts recently raised their price targets for the stock to $1,500, representing a 45% increase from its current price, as of this writing. Here's why this bull case for Micron stock is rooted in reality and why now could be a good time to buy shares despite their recent volatility. Investors have been wondering when the boom in artificial intelligence (AI) might fizzle out and if some stocks are currently in an AI bubble. And while some are certainly benefiting from the technology without having a strong foundation in it, that's not the case for Micron. Consider the huge AI supercycle currently underway, which is driving sales of its memory processors . This year alone, some of the leading technology companies will have $750 billion in capital expenditures, mostly for AI.
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