Micron Technology, Inc. (NASDAQ:MU) is one of the 13 Best Stocks to Invest In According to Billionaire Ken Griffin.
Memory chip manufacturer Micron Technology, Inc. (NASDAQ:MU)’s shares are among the top performers in the market
They are up by 671% over the past year and by 171% year-to-date. Morgan Stanley discussed the firm on June 3rd as it significantly raised the share price target to $1,050 from $520 and kept a Buy rating on the stock. At the heart of the bank’s coverage was the ongoing memory shortage, as it explained that apart from more output, there was no other solution to resolve the market’s tightness.
June has shaped up to be a crucial month for Micron Technology, Inc. (NASDAQ:MU) after comments made by NVIDIA CEO Jensen Huang in Taiwan. Huang confirmed that his firm had qualified three firms to supply memory chips for the latest Vera Rubin AI platform, with Micron being one of the three companies. Micron Technology, Inc. (NASDAQ:MU) has a forward price-to-earnings multiple of 12.87, which is lower than the semiconductor sector’s 37.29.