Micron Stock Called 'Top Pick' By Morgan Stanley

Core Viewpoint - Morgan Stanley has identified Micron Technology (MU) as a "top pick," anticipating that the memory-chip maker will benefit from rising prices, particularly in the DRAM segment [1][2]. Group 1: Stock Performance and Ratings - Analyst Joseph Moore has reiterated an overweight rating on Micron stock, raising the price target from 220 to 325, which is the highest on Wall Street [1]. - Micron stock experienced a slight dip of over 1% to 242.15, following an all-time high of 257.07 [1]. - The stock ranks first in IBD's Computer-Data Storage industry group, which is the second-best performing group out of 197 over the past 12 months [4]. Group 2: Market Demand and Pricing - Strong demand for Micron's DDR5 products, particularly for AI data centers, is expected to drive the company's fortunes [2]. - DDR5 spot pricing has tripled in just over a month, a significant increase not seen since the 1990s [2]. Group 3: Earnings Potential - The company is projected to enter "uncharted territory" in terms of earnings, with the stock not yet fully reflecting the anticipated upside [3]. - There is potential for increased enthusiasm in Micron's story, alongside a jump in earnings power, as AI sentiment continues to grow [3].