Micron Technology, Inc. (NASDAQ:MU) is one of the Hot AI Stocks to Keep on Your Radar. On November 24, Morgan Stanley reiterated the stock as “Overweight” and lifted its price target to $338 from $325. The firm has named Micron as its “Top Pick.”
The raised price target reflects “intensifying shortages across the board” in memory markets.” Memory stocks have sold off lately amid growing concerns about higher capital spending.
However, the firm argued that the recent selloff in semiconductor stocks doesn’t seem “warranted” as tightening memory supply points signal robust earnings ahead.
According to analyst Joseph Moore, memory market conditions are improving with the most pressure in DDR5 DRAM. Tightness has reached a point where “there is an active sense of crisis that product is not available at any price.”
Even though consumer-grade NAND isn’t as constrained, the firm is noticing “a generational tightness across all areas.”
“Raising MU CY26 EPS 15%, moving PT from $325 to $338.”
Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.
While we acknowledge the potential of MU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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