AI MEMORY SOLD OUT – 416% GAIN ON MICRON – RAISING THE TARGET
The Arora Report, Ltd.
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By?Nigam Arora?& Dr. Natasha Arora
Members of The Arora Report are well positioned in Micron (MU) stock.? The original position is long from $21.77.? This represents a gain of 416%.
Memory For?AI
High bandwidth memory is used in artificial intelligence applications.? Micron shared that its high bandwidth memory is sold out for 2024.
In The Arora Report analysis, Micron is likely to ship $600M – $800M?worth of high bandwidth memory for?AI?applications in 2024.? As investors understand the need for high bandwidth memory, the PE of?MU?stock is likely to expand.
Earnings
Micron reported blowout earnings.? Here is what investors need to know:
Zones
For those following the Good Way, the Buy Now rating is NO.
For those following the Best Way, the buy zone is $93.11 – $105.56.
领英推荐
For those following the Best Way who are not aggressive, consider waiting for a dip into the lower end of the buy zone.
The maximum recommended quantity is 20%.
The target zone is $136 – $142.
What To Do Now
Those in the position may consider continuing to hold.? Those not in the position may consider following the parameters given above.
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This post was just published on?ZYX?Buy Change Alert.
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