Micron (MU) Named Morgan Stanley’s Top Pick as Memory Shortages Intensify

Core Viewpoint - Micron Technology, Inc. is highlighted as a top investment opportunity in the AI sector, with Morgan Stanley raising its price target to $338 from $325, citing increasing shortages in memory markets [1][3]. Group 1: Market Conditions - The semiconductor stock selloff is viewed as unwarranted, as tightening memory supply indicates strong earnings potential ahead [2]. - Analyst Joseph Moore notes that memory market conditions are improving, particularly in DDR5 DRAM, where supply tightness has reached a critical level [3]. - There is a generational tightness across all memory areas, despite consumer-grade NAND not being as constrained [3]. Group 2: Company Overview - Micron Technology develops and sells memory and storage products for various applications, including data centers and mobile devices [3].