A trend has been developing since October 2020 for Micron Technology Inc. (NASDAQ: MU). Looking back at the past, we will examine various forward or backward shifting developments regarding MU. During the last five business days, the company’s shares rose by 5.08%, and in the previous thirty days, share prices soared by 15.55%. During the last quarter, the stock gained 58.65%. In the six-month closing period, the stock’s output increased by 62.07%, while overall annual production increased by 41.60%. The company’s performance has increased by 11% from the start of this calendar year.
Mizuho reaffirmed its Buy rating for Micron Technologies this week and set a target price for MU of $92. This recommendation is in line with the fact that one of Micron Technology’s largest customers, Xiaomi, was placed on the “black list” of the U.S. Department of Defense. Many investors fear that this will negatively affect Micron Technology’s business. However, the list of the US Department of Defense imposes restrictions on military goods, and Mizuho does not believe there will be many difficulties for Micron Technology.
There are more positive factors that are driving Micron Technology (MU) growth than negative. It primarily focuses on the production of DRAM memory. Based on increased demand for mobile phones and servers and capital expenditure discipline, Mizuho thinks Micron Technology is well-positioned to improve its DRAM business further.
Micron Technology’s (MU) quarterly report confirms that the DRAM market is gaining strength. According to the company, it has led both DRAM and NAND technologies simultaneously for the first time in its history. The development of IoT, artificial intelligence, 5G, cloud technology, and other factors will lead to future growth in the global economy over the long term.