Micron Technology, Inc. (NASDAQ: MU)
Should you buy Micron stock now that it is down around 27% in the past month? Well, with a Price to Earnings of 16 and income growth estimates of around 32%; MU’s PEG ratio of 0.5 is simply too low for critics to ignore.
But what about the broader industry? Well, memory chip demand is expected to hit $147B by 2027 according to this Deloitte report. The memory chip supply crunch is expected to begin easing around 2029.
We are continuing to see large amounts of capital investment from Micron as they continue to grow their business, and everyone is expecting Micron to see massive revenue gains over the next year.
Micron has smashed all 4 of its last earnings calls and it continues to hold positive ratings among analysts with a Strong Buy consensus rating and a +44% expected price increase over the next year. We put Micron as a medium risk, high reward stock and have it rated a Buy with a +124% one year forecast.
Topics: Micron stock forecast, MU stock analysis
