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Micron Stock Forecast: Micron (MU) Shares Show Consistent Algorithm Results

This article was written by Esther Hanon, a Financial Analyst at I Know First

“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination”

—Jimmy Dean

Memory-chip maker Micron Technology continued its skyward climb, following a breakout last week
Micron shares jumped 8.8% to close at 59.37 on the stock market on Monday, March 12 Micron stock broke out of a 14-week consolidation period with a buy point of 49.99 on March 5^th.
Analysts are maintaining its outperform rating while many others are shifting towards a buy rating in the recent days.
Catalysts for Micron stock include higher DRAM chip pricing, margin expansion in NAND chips, and expectations for increased capital returns. Micron can also be an acquisition target as chip-industry merger activity intensifies.

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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.

Micron’s new triple level cell (TLC) 3D NAND mobile memory products are timely. They could be used in this year’s flagship phones and tablets.
Smartphones are already the largest customers of NAND memory chips. Technavio calls smartphones the key driver in global NAND flash sales.
Technavio expects NAND flash sales to experience a 15% CAGR from 2018 to 2022.
On-device Artificial Intelligence for smartphones/tablets requires larger and faster NAND memory solutions. Data will be stored and processed on the device itself.
The advent of 4K video recording and 12-megapixel photography in modern smartphones also require faster and larger memory chips.

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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.

Micron’s stock posted a new 52-week high price of $38.46 on September 28.
The big beat on Q4 ER numbers last September 26 is fueling a bull rush for Micron. I am betting MU can hit $42 before 2017 ends.
The short supply and high prices for DRAM and NAND will persist to 2018. Micron therefore has more upside potential. DRAM accounts for 66% of Micron. NAND is 30% of revenue.
An iPhone 8 Plus teardown confirmed that Apple is still using Micron mobile DRAM.
Micron is also a beneficiary of the high prices and tight supply of discrete GPUs caused by crypto-currency mining.

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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.

I made a buy recommendation for Micron last August 22. The stock has since returned +21.48%.
I previously expected MU to breach $35 before 2017 ends and it already happened. It posted a new 52-week high of $36.60 this week.
Micron is still a buy. This company’s stock is still relatively undervalued compared to its sector/industry peers.
This DRAM/NAND company will report its Q4 earnings on September 22. I expect it to beat street estimates.
I expect MU’s upward market trend to continue well into 2018. I Know First has very bullish near and long-term algorithmic forecasts for this stock.