Micron Gets Boost as HSBC Initiates Coverage With Buy Rating
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HSBC initiated coverage of Micron Technology with a Buy rating and a $330 price target, citing underestimated durability in the memory cycle. Analyst Ricky Seo sees an attractive entry point due to overshadowed fundamentals and expects a four- to five-year upcycle, driven by AI investments and constrained supply. Strong demand for high-bandwidth memory and server memory content is projected, with DRAM and NAND markets expected to grow significantly by 2026, benefiting Micron.
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