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Morgan Stanley aggressively raises Micron’s target price to $450: As long as AI demand remains strong, China’s capacity impact and overheated capital expenditure are not problems at all!

Morgan Stanley aggressively raises Micron’s target price to $450: As long as AI demand remains strong, China’s capacity impact and overheated capital expenditure are not problems at all!

``` Morgan Stanley believes that the market has greatly underestimated the current shortage of memory chips. Driven by the AI super cycle, the traditional cyclical valuation framework is no longer applicable, and Micron is at the sweet spot where both profitability and valuation multiples are expanding. According to Chase Wind Trading
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