What's Going On With Micron Stock Tuesday? Chip Designer Plans New Factory By 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 28 2024
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Source: Benzinga
- Micron Technology Expansion: Micron Technology plans to build a new plant in Hiroshima, Japan by 2026.
- Investment Plans: The company intends to spend 800 billion Japanese yen on this manufacturing facility for advanced DRAM.
- Operational Timeline: The new plant is expected to start operations by 2027.
- Financial Outlook: Micron expects significant growth in its HBM business by fiscal 2025 and aims for over 50% of PCs to be AI-enabled by 2027.
- Stock Performance: Micron stock has seen an 81% increase in the last 12 months, with analysts optimistic about its future prospects.
Analyst Views on SHOC
Wall Street analysts forecast SHOC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHOC is USD with a low forecast of USD and a high forecast of 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.
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Current: 76.092
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Current: 76.092
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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.
