Analysts remain bullish despite mixed memory chip results
Micron Technology shares declined 2% in premarket trading on Monday after Citi removed its catalyst watch on the stock, citing mixed results from other companies in the memory semiconductor sector.
The brokerage firm removed Micron from its catalyst watch list following varied earnings performances among memory chip companies during the latest reporting season.
Despite the change, Citi maintained its positive outlook on Micron and kept its price target at $1,400 per share.
AI demand continues to support Micron outlook
Citi highlighted the strength of the current DRAM market cycle and Micron’s exposure to artificial intelligence infrastructure as key reasons behind its continued bullish view.
The firm described the ongoing DRAM market recovery as “unprecedented,” pointing to strong demand for memory chips driven by AI data centers and advanced computing applications.
While short-term market reactions remain influenced by mixed industry results, analysts continue to view Micron as a major beneficiary of long-term AI investment trends.
