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Home»AI in Technology»Micron Technology’s (MU) AI Potential Drives Growth Projections, Raised Price Target
AI in Technology

Micron Technology’s (MU) AI Potential Drives Growth Projections, Raised Price Target

December 3, 2024004 Mins Read
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We recently published a list of 15 AI News That Broke the Internet. In this article, we’ll take a look at where Micron Technology, Inc. (NASDAQ: MU) stands in relation to other AI news that broke the internet.

OpenAI has been making headlines in the field of artificial intelligence since its existence, and it seems like the company has something new to share almost every day. However, not all news regarding the company is positive. In the latest news shared by The Washington Post, OpenAI has suspended access to its latest highly anticipated video generation tool, Sora. The suspension followed a small group of artists who disclosed access to the tool to protest the treatment they received at the company.

ALSO READ: 15 AI Stocks to Watch: News and Analyst Ratings And 9 Buzzing AI Stocks to Watch in the Breaking News.

Arguing that the company was using them as “PR puppets” without pay, the artists created a web page allowing anyone to make AI videos using Sora. OpenAI has granted hundreds of artists free access to the video generation tool so that they can test the new artificial intelligence video generator. However, 20 of these artists claimed that the company profited from their unpaid work. This is what the group of artists wrote on Hugging Face, an open source repository for artificial intelligence projects.

“Hundreds of artists provide unpaid labor through bug testing, feedback, and experimental work for the program of a company valued at $150 billion.”

The artists further added that the opportunities offered in exchange for helping the company, such as selection for the screening of their Sora-created films, provide “minimal compensation that pales in comparison to the substantial value public relations and marketing that OpenAI receives. The tool was public three hours before it closed. OpenAI spokesperson Niko Felix said the company has temporarily shut down user access to Sora while it reviews the situation.

“Hundreds of artists from our alpha release have shaped the development of Sora, helping to prioritize new features and safeguards. Participation is voluntary, with no obligation to provide feedback or use the tool.

In other news, Axios reported that President-elect Donald Trump is considering appointing an “AI czar” to the White House who will coordinate federal policy and government use of artificial intelligence. Even though Elon Musk won’t be the AI ​​czar, he should be involved.

For this article, we selected AI stocks by looking through news articles, stock analyses, and press releases. These stocks are also popular among hedge funds.

Why are we interested in stocks that hedge funds are piling into? The reason is simple: our research has shown that we can outperform the market by imitating the stocks selected by the best hedge funds. Our quarterly newsletter strategy selects 14 small and large cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

Micron Technology, Inc. (NASDAQ: MU), micro, network, diagrams, virtual screen, matrix, program, screen
Micron Technology, Inc. (NASDAQ: MU), micro, network, diagrams, virtual screen, matrix, program, screen

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Number of hedge fund holders: 107

On November 25, Mizuho analyst Vijay Rakesh reiterated an “Outperform” rating and $135.00 price target on Micron Technology, Inc. (NASDAQ: MU), an American innovative solutions provider memory and storage that supports the development of artificial intelligence and generative technologies. AI applications. According to the company’s projections, the HBM3e market is expected to grow sevenfold, reaching more than $35 billion by 2026. Additionally, Micron could secure 20-25% of the market by qualifying its product 12Hi HBM3e by the end of 2024. The company is also expected to see a 42% increase in TSV capacity in 2025, leading to 10% growth in global DRAM production. One of the key drivers of DRAM evolution that the company has recognized is 3D stacking technology. Overall, the company increased its revenue and EPS estimates for Micron for fiscal 2026. The increase comes from expected revenue growth from HBM3e and strong margins through the fiscal year. 2026.

Overall, MU ranks 3rd on our list of AI news that broke the internet. While we recognize the potential of MU as an investment, our conviction lies in the belief that certain AI stocks hold more promise in terms of higher returns and in a shorter time frame. If you’re looking for an AI stock that’s more promising than MU but is trading at less than 5x earnings, check out our report on cheapest AI stock.

READ NEXT: 8 Best Wide Fluke Stocks to Buy Now And 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article was originally published on Initiated Monkey.

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