15 AI News That Broke The Internet

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3. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 107

On November 25, Mizuho analyst Vijay Rakesh reiterated an “Outperform” rating and a $135.00 price target on Micron Technology, Inc. (NASDAQ:MU), a US-based innovative memory and storage solutions provider that supports the development of artificial intelligence and generative AI applications. As per the firm’s projections, the HBM3e market is expected to grow sevenfold, reaching over $35 billion by 2026. Moreover, Micron could secure 20-25% of the market by qualifying its 12Hi HBM3e product by the end of 2024. The company is also set to witness a 42% increase in TSV capacity in 2025, driving 10% growth in overall DRAM production. A key driver for DRAM evolution that the firm recognized is 3D stacking technology. All in all, the firm has raised its fiscal 2026 top-line and EPS estimates for Micron. The raise comes from the anticipated revenue surge from HBM3e and strong margins through fiscal 2026.

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