FMP

FMP

Cantor Fitzgerald Reiterates Overweight Rating on Micron, $150 Price Target as Data Center Demand Drives Growth

-

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Cantor Fitzgerald analysts reaffirmed their Overweight rating on Micron Technology (NASDAQ:MU), with a price target of $150, following an investor call focused on the health of the DRAM and HBM markets and Micron’s expanding product portfolio.

During the call, Micron highlighted its strong performance in the data center sector, driven by both AI and traditional servers, which is expected to fuel upside for the company’s November quarter guidance. The company remains optimistic about mid-single-digit growth in server demand, particularly from AI, while assumptions for PCs and smartphones appear conservative, with recovery expected by mid-2024.

The analysts emphasized that Micron’s shift toward high-value, higher-margin solutions is an underappreciated aspect of its growth story. Beyond its HBM products, Micron's portfolio includes high-capacity server DRAM, LPDDR5, and eSSD, which are expected to generate multi-billion-dollar revenues in fiscal 2025. These offerings are poised to boost profitability due to their structurally higher gross margins, underscoring Micron’s long-term potential.

Other Blogs

Nov 22, 2024 5:08 AM - Parth Sanghvi

Fundamental Analysis: Principles, Types, and How to Use It

Fundamental analysis is one of the most essential tools for investors and analysts alike, helping them assess the intrinsic value of a stock, company, or even an entire market. It focuses on the financial health and economic position of a company, often using key data such as earnings, expenses, ass...

blog post title

Dec 17, 2024 8:58 AM - Sanzhi Kobzhan

Examining Tesla’s Financial Health Using FinancialModelingPrep’s Ratios API

Tesla, one of the world’s most talked-about electric vehicle manufacturers, attracts a lot of attention from investors and market watchers. By examining a snapshot of Tesla’s financial ratios—such as those provided by FinancialModelingPrep’s Ratios API—we can get a clearer picture of the company’s f...

blog post title

Dec 22, 2024 7:59 AM - Sanzhi Kobzhan

Two great Software Platform Stocks Similar to Palantir (PLTR)

When it comes to cutting-edge software and data analytics, Palantir Technologies (NYSE: PLTR) is often front and center. But for many investors, it’s important to consider alternative or complementary stocks in the same sector that may offer robust growth potential. As PLTR looks expensive (overvalu...

blog post title