Why Citi Remains Bullish on Micron Technology, Inc. (MU)

Company Overview - Micron Technology, Inc. (NASDAQ:MU) is an Idaho-based company specializing in memory and storage products, incorporated in 1978, operating through four segments including the Cloud Memory Business Unit and Core Data Center Business Unit [4] Earnings Growth and Analyst Ratings - Micron is recognized for its strong earnings growth potential over the next five years [1] - Citi raised the price target for Micron from $330 to $385 while maintaining a Buy rating, but removed the stock from its US Focus List [1] - RBC Capital initiated coverage with an 'Outperform' rating and a price target of $425, citing rising demand for generative AI and improved supply discipline as factors contributing to "extreme tightness" in the memory market [2] Market Trends and Projections - The company is expected to experience a decline in DRAM pricing momentum in Q2 compared to Q1, with stock performance typically aligning with quarter-over-quarter pricing trends [1] - RBC analyst Srini Pajjuri highlighted that High Bandwidth Memory (HBM) content is accelerating at over 50%, with the HBM4 transition providing a significant advantage for Micron [3] - The firm anticipates record earnings of $50 or more per share for Micron Technology [3]