Key Highlights:
- Apple's interest in more DRAM for iPhone 17 models could boost Micron Technology's demand.
- Analysts predict significant upside potential for Micron shares, with an average target price of $122.81.
- GuruFocus estimates point to an 89.79% upside for Micron based on its GF Value.
Micron Technology Inc. (MU, Financial) is poised for potential growth as Apple's upcoming iPhone 17 models may increase the demand for dynamic random access memory (DRAM). Notably, analysts predict that three different iPhone models could incorporate 12GB of DRAM, thus enhancing Micron's growth prospects. Following these speculations, Micron's shares experienced a 4% increase.
Wall Street Analysts' Projections
Insights from 33 seasoned analysts reveal the average one-year price target for Micron Technology Inc. (MU, Financial) stands at $122.81. This range includes a high estimate of $200.00 and a low estimate of $60.00. The average projection suggests an upside of 61.84% from the current share price of $75.89. For a more comprehensive breakdown of these estimates, visit the Micron Technology Inc (MU) Forecast page.
The consensus from 40 brokerage firms rates Micron Technology Inc. (MU, Financial) at an average recommendation of 1.9, signifying an "Outperform" status. The rating scale ranges from 1 to 5, where a rating of 1 denotes a Strong Buy and 5 indicates a Sell.
GuruFocus Valuation Insights
According to GuruFocus, the estimated GF Value for Micron Technology Inc. (MU, Financial) over the next year is $144.02. This estimate translates to a potential upside of 89.79% from the current share price of $75.885. The GF Value is a reflection of GuruFocus' fair value estimate for the stock, determined by analyzing historical trading multiples, past business growth, and future performance projections. For more detailed insights, explore the Micron Technology Inc (MU) Summary page.
