MU Stock Forecast: Micron Deserves A 90-Day Price Target of $65
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
Summary:
- Micron’s stock dipped more than 3% last Friday due to concerns over the new coronavirus outbreak in China.
- In spite of this price decrease, MU still trades higher than $48.60. That was MU’s price during my last buy recommendation for it last September 26.
- Micron’s new LPPDR5 for smartphones is now in mass production. Xiaomi’s Mi 10 and Mi 10 Pro will come equipped with Micron’s LPDDR5. Other 2020 phones will shortly follow.
- LPDDR5 is 50% faster than LPPDR4x. It is also up to 30% more energy efficient. LPPDR5 will definitely become the new standard for smartphones and tablets this year.
- In spite of the stock market’s anxiety over the new coronavirus outbreak, I Know First still is very bullish on Micron’s stock.