hapabapa
- Micron (NASDAQ:MU) slipped on Monday, even as investment firm Hedgeye added the memory chipmaker as a new long idea ahead of its earnings report later this week.
- Micron’s guidance should top estimates amid strong pricing for artificial intelligence driven products (HBM3E, DDR5 and eSSD) along with some of its legacy products, analyst Felix Wang said. The stock is likely to benefit as better fundamentals, as growth, margins and free cash flow all improve, which should add new types of investors, Wang added.
- Micron has been catching up to competitors SK Hynix and Samsung (OTCPK:SSNLF) in the high-end memory space and its Nvidia (NVDA) partnership is evidence of that, due in large part to its leadership in the high-bandwidth memory space.
- Separately on Monday, investment firms Citi and Wolfe raised their price targets on Micron.
- A consensus of analysts expect Micron to earn $0.53 per share on $6.67B in revenue.