Micron Technology, Inc. (NASDAQ:MU) is one of the Popular AI Stocks to Keep on Your Radar. On Nov. 24, Morgan Stanley reiterated that the stock was “overweight” and raised its price target to $338 from $325. The company has named Micron as its “Top Pick.”
The price target increase reflects “increasing shortages across the board” in memory markets. Memory stocks have been selling off lately amid growing concerns about increased capital spending.
However, the company argued that the recent sell-off in semiconductor stocks does not appear “justified,” as shrinking memory supply points indicate strong gains ahead.
According to analyst Joseph Moore, memory market conditions are improving and the biggest pressure is on DDR5 DRAM. Rigidity has reached a point where “there is an active sense of crisis that the product is not available at any price.”
Although consumer NAND is not as limited, the company is seeing “a generational tension in all areas.”
“Increasing MU CY26 EPS by 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 recognize MU’s potential as an investment, we believe certain AI stocks offer greater growth potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
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