Micron, the world's leading semiconductor manufacturer, is expected to report first-quarter earnings, with revenue and profits rising sharply, but still falling short of market expectations.
However, Micron Technology stock soared over 10% so far this year, analysts believe Micron should outperform the broader semi-finished market in 2022. There are three reasons:
1) a significant decline in DRAM inventory levels among customers in the server, PC, and mobile markets;
2) more reasonable DRAM wafer capacity growth in 2022;
3) increased DRAM content in AI/ML servers, ADAS and electric vehicles, and 5G Android smartphones.
So We continue to believe that memory stocks have a relatively well-defined earnings cycle, though highs and lows are likely to be better than they have been historical.
Most analysts are bullish on Micron. They think, still down 10% from 52 week high which is good. Lots of room to run so get on board now. Even new variants of covid won't be able to slow down cloud and metaverse expansion. So Micron looks pretty strong.
MU is earning more money than AMD and NVDA each quarter.
MU is very undervalued with a P/E of less than 10. Both AMD and NVDA use MU DRAM. MU should trade at a market cap similar to AMD/ NVDA.
Plus, technical analysis suggests it is good to buy now as 100-day Moving Average and 20-200-day MACD Oscillator signals a buying opportunity.
Be patient! HOLD MU tight!
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