MU Micron Stock Forecast 2023

MU Micron Stock Forecast 2023: Read about short-term and long-term MU Micron Technology Stock Predictions.

Latest Price

Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron is a world leader in innovative memory solutions that transform how the world uses information. For over 40 years, our company has been instrumental to the world’s most significant technology advancements, delivering optimal memory and storage systems for a broad range of applications. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

Performance of Micron Stock

• 1 M: +5.6%
• 6 M: +13.7%
• 12 M: -22.7%

MU Micron Stock Forecast 2023: Latest news

In what appears to be retaliation, China has opened a cybersecurity investigation into Micron Technology, one of the biggest memory chip manufacturers in the US, after American allies in Asia and Europe put additional limitations on the transfer of critical technology to Beijing.

China’s cyberspace watchdog, the Cyberspace Administration of China (CAC), said in a statement late on Friday that it would examine items marketed in the nation by Micron. The investigation will spur China to accelerate the development of domestic alternatives in conjunction with Japan’s export prohibition, benefiting both chip manufacturers and chip-equipment manufacturers.

It was mentioned that the action was taken to “protect national security, prevent cybersecurity threats caused by hidden product issues, and ensure the security of important information infrastructure supply chains.”

Following the news, Micron’s stock fell 4.4% on Wall Street, the most since more than three months prior. More than 10% of Micron’s sales come from China.

Micron Technology Stock Forecast: Technical Analysis

• 52 Week Range: 48.43 – 78.18
• Volume: 17,274,757
• Average Vol.(3m): 15,265,427
• Market Cap: 64.32B
• EPS: 1.47

When the stock is analyzed on 1 Day basis, the rating of the analyst is fairly on the buyer side whereas the technicals suggest the stock will move in a range that is on the neutral side. The volatility indicators are slightly on the higher side suggested by ATR (14) which is at 2.3750. Trend oscillators are giving mixed signals, where MACD (12,26) stands at 0.640 which is a buy signal and ADX (14) is at 22.210 which lies in the sell region.

The same situation prevails when we take a look at the momentum oscillators such as RSI (14) 50.288 which is exactly mid-way indicating the neutrality of the stock. Moving averages, on the other hand, show the same picture, MA 50 is at 59.24 and MA 200 at 57.09, one indicates a sell and the other demonstrates buying opportunity.

The sentiment for the stock however remains on the strong buy side.

MU Micron Stock Forecast 2023: Fundamentals

The Boise, Idaho-based business announced late Tuesday that it lost an adjusted $1.91 per share on $3.69 billion in sales for the three months that ended March 2. FactSet’s analysts’ poll had predicted that Micron would lose 67 cents per share on $3.71 billion in sales. On revenues of $7.79 billion in the prior-year quarter, Micron generated earnings per share of $2.14.

In the second quarter, Micron recorded a charge for inventory write-downs of $1.43 billion. The $1.34 per share in earnings suffered as a result. Micron forecasted an adjusted loss of $1.58 per share on $3.7 billion in revenue for the current quarter. For the third quarter of the fiscal year, Wall Street expected a loss of 96 cents per share on revenues of $3.72 billion. Micron generated $2.59 in profit per share on $8.64 billion in sales at the same time last year.

A $500 million inventory write-down is anticipated by Micron. This will reduce earnings by around 45 cents per share.

MU Micron Stock Forecast 2023: Macros

By 2031, the market for computer microchips, which was valued at $21.2 billion in 2021, is expected to have grown to $57.3 billion, with a CAGR of 10.6% between 2022 and 2031. Memory chips and logic chips are the two segments of the market. In 2021, the market’s top revenue contributor was the memory chips category.

Higher usage of consumer electronics products around the world is attributable to the industry’s rapid expansion and surge in demand for hand-held and microcomputer processors. Also, the development of artificial intelligence and machine learning has opened up new prospects for the growth of the market share for computer microchips. The demand for faster and more effective memory chips in industrial applications is also anticipated to fuel the expansion of the computer microchips market over the course of the projected period.

Use of consumer electronics is one of the key elements influencing the expansion of the computer microchip business. In addition, the market for computer microchips is anticipated to rise as internet of things (IoT) technology use surges. However, manufacturing challenges are a major impediment to early acceptance, which slows the market’s expansion. On the other hand, increased spending on tools and materials for microchip manufacture presents the market for computer chips with possibilities for expansion.

Analysts Price Target

1. Goldman Sachs: $65
2. TD Cowen: $70
3. Baird: $60
4. B of A Securities: $68
5. Susquehanna: $68
6. Rosenblatt: $100
7. JP Morgan: $75
8. Needham: $71
9. Evercore ISI Group: $75

Author: Pratyush Mengi

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.