Why This Semiconductor Stock Could Surge 65% in the Next 12 Months

Surging memory prices from artificial intelligence (AI) demand have sent Micron Technology (NASDAQ: MU) shares soaring over the past 12 months. In its recently completed fiscal second quarter, revenue nearly tripled year over year, and management guided for another record quarter for Q3.With earnings expected to rise sharply this year and next, the stock could move substantially higher. A reasonable estimate could justify the stock climbing another 65% to nearly $700 in the next 12 months. Here's the opportunity Micron is pursuing, along with the potential pitfalls to watch for.Image source: Micron Technology.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool