Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
We surveyed a group of over 500 investors on whether shares of Micron Technology (NASDAQ: MU) will reach $200 by 2022.
Micron Stock Forecast
Micron historically focused on providing DRAM for PCs and servers. The firm then expanded into the NAND flash memory market. The company increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and Inotera (completed in December 2016).
The Idaho-based computer memory and data storage producer continues to garner investor attention given its marked earnings growth.
In the company's first-quarter earnings report, earnings rose 62.5% over the past year to 78 cents per share, which beat the estimate by seven cents. Revenue of $5.77 billion rose by 12.23% from the same period last year, which beat the estimate of $5.73 billion.
Micron trades around $79.45 at the time of publishing, off the 52-week low of $31, and 60% of Benzinga traders said Micron would indeed reach $200 per share by 2022.
Respondents to the survey said the stock will increase over the next year given the increased demand for and sales of the company’s memory product solutions for the cloud server, enterprise, client, graphics and networking markets.
Respondents emphasized Micron’s ultra-bandwidth solutions, which are known to deliver maximum bandwidth to feed client’s data-hungry workloads like high-performance computing, artificial intelligence systems and professional visualization workstations, will continue to spike in demand amid a transition to long-term remote working conditions.
This survey was conducted by Benzinga in January 2021 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 500 adults.
Photo credit: Mike Deal, Flickr
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