Nvidia's price target, Micron a 'top pick': Chip stocks

Nvidia (NVDA) received a price target hike to $150 per share from Jefferies analysts, while Citigroup maintained its Buy rating on Micron Technology (MU) stock and named the semiconductor company as a "top pick." Morning Brief Hosts Brad Smith and Madison Mills examine these two chip names ahead of Monday's market open.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

Let's get to some trending tickers that we're watching on this Monday morning.

Let's start with Tech NVIDIA getting another price hike this morning, this time from Jeffries analyst Blaine Curtis saying that the company remains both the King and King maker, boosting his price target to 100 $50 from $135.

Meanwhile, you've also got Mikron getting some action, getting some love ahead of earnings that's coming this week City Group here calling the company a top pick ahead of those results, all because of a I exposure.

So a significant set or slew of announcements here this morning, or at least some of the target changes that we've seen come through and one of the things that I'll focus in on here specifically is just MI, and especially within what we're seeing.

They're talking about the expected upside, given the DRAM upturn and increasing a I exposure, that's really kind of behind their top pick status.

And then this, uh, this buy rating as well raising their estimates and price target and believe they should continue to trade at a premium to that historical range.

Given that a I exposure Yeah, Brad, I'm just taking a look at what that stock has been doing year to date here because it's interesting seeing this city call, given that the stock has already done fairly well year to date.

It's up, Yeah, pretty well, over 69% here when it comes to Myron, so interesting to see that positive upside.

Having said that really quickly want to mention on NVIDIA.

Given the moves that we're seeing in that stock this morning, they could see a sell off of nearly $300 billion wiping out of their overall market cap.

That is due to a couple of things, one a broader opportunity regarding Triple, which that led to a little bit of a market sell.

Also see some executive presence selling off that stock.

I'm talking about Jensen Juan here, getting now also some significant other tech investors in the space, including a rebalancing with one big tech ETF leading to a little bit of downward pressure in NVIDIA upside performance in Apple shares.

That's why you're seeing a lot of pressure on this stock.

We're gonna continue to cover that throughout our show because a lot of analysts would argue that this is a buying opportunity.

Still, for NVIDIA