It’s important to note that the MU stock price isn’t a perfect gauge of the company’s business performance. The company is suffering from unprecedented supply problems and analysts are divided on whether the stock has hit bottom or not. Analyst Vijay Rakesh, who has a neutral rating, recently lowered his price target on the stock to $52 from $56. He also warned that the recovery may be difficult into the second half of 2023.
Micron is a global semiconductor device manufacturer. Its products include DRAM, NAND flash memory, and CMOS image sensors. Despite the current cyclical downturn, Wall Street analysts predict that Micron’s stock price will turn around. Recent regulations that restrict Chinese chipmakers may also help the company bolster its position.
