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:
- Q2 EPS came at $0.42 vs. a consensus of a loss of $0.25.
- Q2 revenue came at $5.82B vs. $5.34B consensus.
- Micron projects Q3 EPS of $0.38 – $0.52 vs. $0.20 consensus.
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.
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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Nigam Arora
Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.
Dr. Natasha Arora
Dr. Natasha Arora has significant expertise in investment analysis especially biotech, healthcare, and technology. Natasha is a graduate of Harvard Medical School followed by a postdoc at MIT. She has published several peer reviewed research papers in top science journals.
