Micron Breaks Ground on 600,000 Sq Ft Chip Plant in New York with $200 Billion Investment
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Surging Demand: Micron's CEO stated that AI-driven demand is accelerating, necessitating more memory to meet market needs, which is expected to drive future company performance growth.
- Investment Plans: Micron plans to invest $200 billion to expand domestic production capacity, demonstrating strong confidence in future markets and support for the U.S. semiconductor industry.
- New Plant Construction: The groundbreaking of the 600,000 sq ft facility in New York marks a significant step, although the construction may take years, it lays the foundation for future chip production.
- Policy Support: The construction of this plant is supported by the CHIPS Act, which provides substantial subsidies for domestic semiconductor manufacturing, further enhancing the U.S.'s competitiveness in the global semiconductor industry.
Analyst Views on MU
Wall Street analysts forecast MU stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for MU is 228.21 USD with a low forecast of 170.00 USD and a high forecast of 325.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
29 Analyst Rating
26 Buy
3 Hold
0 Sell
Strong Buy
Current: 336.630
Low
170.00
Averages
228.21
High
325.00
Current: 336.630
Low
170.00
Averages
228.21
High
325.00
About MU
Micron Technology, Inc. provides memory and storage solutions. The Company delivers a portfolio of high-performance dynamic random-access memory (DRAM), NAND, and NOR memory and storage products through its Micron and Crucial brands. The Company's products enable advancing in artificial intelligence (AI) and compute-intensive applications. Its segments include Cloud Memory Business Unit (CMBU), Core Data Center Business Unit (CDBU), Mobile and Client Business Unit (MCBU) and Automotive and Embedded Business Unit (AEBU). CMBU is focused on memory solutions for large hyperscale cloud customers, and high bandwidth memory (HBM) for all data center customers. CDBU is focused on memory solutions for mid-tier cloud, enterprise, and OEM data center customers and storage solutions for all data center customers. MCBU is focused on memory and storage solutions for mobile and client segments. AEBU is focused on memory and storage solutions for the automotive, industrial, and consumer segments.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
