Double Upgrade: Despite the rally, BNP Paribas Exane sees 50% upside potential for Micron Technology. Reason: The entire memory chip market is still in the early phase of a memory supercycle.

Micron Technology (MU) is strong in DRAM, NAND flash, HBM, and SSDs, providing memory solutions for AI, data centers, mobile devices, automotive, and industrial sectors. CEO Sanjay Mehrotra recently emphasized the exceptional demand driven by AI and the significance of the data center segment as a primary growth driver. Micron launched new 122- and 245-terabyte NVMe SSDs as well as HBM4 and 1-Gamma DRAM products. In the most recent quarter, revenue increased by 46%, gross margin was above 50%, and EPS was $3.03. Analysts such as Rosenblatt raised...