Micron (NASDAQ:MU) stated on Thursday that the earthquake in Taiwan is likely to impact its DRAM supply by up to a mid-single-digit percentage in the calendar quarter. The company added that there was no lasting impact on its facilities, infrastructure, or tools.
Moreover, the chip major assured investors that there was no long-term impact on DRAM supply and that production was on its way to recovery with strong efforts from its team in Taiwan.
Dynamic random access memory (DRAM) chips are used in multiple electronic devices, including computers, smartphones, and cars.
Is MU Stock a Buy Right Now?
Analysts remain bullish about MU stock, with a Strong Buy consensus rating based on 25 Buys and one Hold and Sell each. Year-to-date, MU stock has surged by more than 40%, and the average MU price target of $126.96 implies an upside potential of 2.5% from current levels.
