Wells Fargo predicts $95 stock target for Micron Technology shares.

TLDR:

• Wells Fargo maintains $95 stock target on Micron Technology shares
• Micron’s HBM3E solutions offer significant performance features and competitive edge in power efficiency

The article discusses Wells Fargo’s reiteration of an Overweight rating on Micron Technology shares with a stock price target of $95. Micron has begun volume production of its HBM3E solutions, integrated into NVIDIA’s GPUs. These solutions boast performance features like high pin speeds and memory bandwidth, as well as lower power consumption compared to similar offerings.

Micron leads in the production of 1-beta DRAM, which contributes to its competitive edge. The company’s HBM3E solutions are expected to generate revenue in fiscal 2024 and contribute to market share growth by 2025. Micron’s advancements in the HBM3E space are expected to be showcased at NVIDIA’s upcoming event and have a positive impact on its financial performance.