Micron: A Solid Buy Into Earnings

Summary:

• Micron’s robust AI demand, stellar earnings, and undervaluation suggest a high probability of substantial stock appreciation into year-end and 2025.
• Technical analysis indicates minimal downside risk, with a potential breakout above $110-115, opening a significant upside for Micron’s stock.
• Micron’s fiscal 2025 EPS could reach $9, making its current valuation of 10-11 times EPS estimates extremely attractive.
• Despite risks, Micron’s dominant market position and AI-driven growth make it an excellent intermediate and long-term buy-and-hold stock.

The last time we discussed Micron (NASDAQ:MU), the company reported an excellent earnings announcement. In the previous quarter, Micron earned $1.18 in EPS, clocking in $7.75B in revenues, a 93.3% YoY gain. Micron surpassed the consensus estimates by 7 cents and $110M. In addition to

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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