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On Tuesday, Baird adjusted its price target on Micron Technology (NASDAQ:) stock, raising it from $78 previously to $115, while maintaining a neutral stance. The company cited strong pricing momentum as the reason for the adjustment.
According to Baird's analysis, the DRAM market will reach its lowest supply level in June, with customer inventory buildup expected to reach its peak this year, and then gradually reach a balance between supply and demand by the fourth quarter of 2024. is expected to return to oversupply.
The company expects Micron to significantly increase its highs. bandwidth (NASDAQ:) Memory (HBM) production in the second half of this year is expected to have a positive impact on the company's product mix and gross margin.
Micron Technology, a leading provider of semiconductor solutions, is poised to benefit from the market dynamics described by Baird. The company's strategic efforts to strengthen its product offering, particularly in his HBM division, are seen as a key driver of future financial performance.
The semiconductor industry in which Micron participates is subject to fluctuations in supply and demand, so the company's forecasts provide insight into expected market conditions. The latest information on Micron's price target reflects the latest trends and expectations for the company's performance given the cyclical nature of the industry.
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