Adrian JohnsonTLDR:
- Micron Technology Stock is trading higher after Mizuho analyst Vijay Rakesh raised the price target to $105.
- Micron announced partnerships with Samsung Electronics Co. and Nvidia Corporation.
In the latest update on Micron Technology Stock, shares are on the rise after Mizuho analyst Vijay Rakesh maintained a Buy rating and increased the price target from $100 to $105. The analyst cited Micron’s improving margin profiling and high-bandwidth memory tailwinds as key factors for the price target increase. Additionally, Micron announced partnerships with Samsung Electronics Co. and Nvidia Corporation. Samsung has selected Micron’s LPDDR5X memory and UFS 4.0 mobile flash storage for devices within the Galaxy S24 series, while Micron has started volume production of the 24GB 8H HBM3E solution for Nvidia’s H200 Tensor Core GPUs. Mizuho believes that Micron’s collaboration with Nvidia presents a strong roadmap for the company.
Looking ahead, Wall Street analysts face challenges in predicting Micron Technology’s stock forecast for 2030. Trend analysis can be a useful tool for investors to forecast annual rates of return based on historical performance. Over the past 5 years, Micron’s annualized stock performance has been 17.55%, suggesting a potential future trading price of $214.35 if this trend continues. Micron shares are currently up 5.28% at $95.39.