Micron Technology has announced that it will open a new memory design center in Atlanta, Georgia, in the Midtown area. Going into operation from January 2022, the new center will allow Micron to access the area’s engineering talent and allow it to shape increasingly advanced memory systems. In particular, the company aims to forge strong ties with universities such as Emory University, Georgia Tech, Morehouse College, Spelman College and the University of Georgia. The new Atlanta Design Center will have up to 500 highly skilled jobs. Also in recent days Cowen and Company has raised the target price from $80 to $99.

Micron Technology [MU.O] rose to $86.4 in pre-trading (+0.5%). Yesterday, it closed at $85.83 (+4.1%). Micron Technology’s intonation remains positive, which after a strong rise up to almost $90 has started physiological profit taking, returning to support at $80. For those who had already holding the stock, we see no reason to exit and we confirm the target at $90 and then, on a break of this level, to the all-time highs of $97. For those wishing to try an entrance, this seems to be interesting as $80 is an important support.

We recommend going LONG on the stock by buying the Leverage Shares Micron Technology 2x ETP (ISIN: IE00BKT66K01) with an increase in exposure on possible decreases towards $80, with a short-term target towards $90 and later, in case of a breakout, at $97. Alert/stop loss should be below $77 (closing daily).