UBS analyst Timothy Arcuri has reaffirmed his positive stance on Micron Technology (NASDAQ: MU ), despite an unexpected margin outlook that led to a drop in the company's stock.
Arcuri's optimism remains unshaken, even in the absence of bullish comments and a delayed gross margin commitment from Micron's fourth quarter earnings report. He underscored the significance of Dynamic Random Access Memory (DRAM) sales in PCs, mobile phones, and data centers, which he believes will continue to drive the company's growth.
The analyst anticipates strategic purchases due to expected price increases by 2025. He predicts a record-breaking year for the memory industry in 2025, suggesting that current challenges faced by the company are likely to be temporary.
Despite these hiccups, Arcuri maintains a Buy rating on Micron's stock and has set a target price of $76. His stance indicates confidence in the company's ability to navigate through current market conditions and achieve substantial growth in the coming years.
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