CoreWeave, Intuit and Micron offered the largest gap between share price and analyst price targets as of 7 July, excluding crypto stocks.
Each stock faces a distinct bear case: AI infrastructure competition for CoreWeave, SaaS disruption fears for Intuit and cyclical memory pricing risk for Micron.
Despite recent volatility, all three companies show low forward valuation multiples and strong growth projections, suggesting they may be undervalued relative to their upside potential.
A rollercoaster ride for tech stocks in recent weeks has left investors questioning whether the artificial intelligence (AI) trade is losing steam. It will also have some wondering whether the pullback has created a buying opportunity.
According to data compiled by Sherwood News, the three stocks (excluding crypto stocks) with the most upside to the average analyst price target as of their 7 July close were CoreWeave [CRWV], Intuit [INTU] and Micron [MU].
We take a closer look at CRWV, INTU and MU’s recent share price movements and make the case for and against each stock.
CoreWeave’s shares sold off at the start of July after Bloomberg reported that Meta [META] was planning its own cloud infrastructure business and would lease access to AI compute power and models. This is seen as a threat to neocloud providers like CoreWeave.[1]
Back in April, the AI infrastructure business had inked a $21bn deal to support the Facebook owner in running AI inference workloads through 2032.[2]
CRWV has fallen 9.72% in the past month through 10 July. The share price is up 24.12% since the start of the year.
Intuit’s shares have been a casualty of the SaaSpocalypse. The emergence of AI agents capable of performing tasks autonomously has fuelled concerns that traditional software models are at risk of going extinct – and that this will eat into software-as-a-service (SaaS) companies’ profits.[3]
INTU has pulled back just 5.99% in the past month. The share price has plunged 58.10% since 1 January.
Micron’s shares took a hit in early July after Samsung narrowly missed Q2 revenue estimates – even though sales were up 129% year-on-year, while operating profit rose a staggering 1,810%.[4] The earnings resulted in a brief dip in chip stocks.
MU is up 4.65% in the past month, but flat in the past week. The share price has surged 243.31% year-to-date.
As of 7 July, CoreWeave had the most potential upside of any Nasdaq 100 stock barring Strategy [MSTR]. An average analyst target price of $141.49 represented a 69.4% premium to that trading day’s closing price.
The demand for compute power, especially from hyperscalers and large AI developers, is showing no signs of letting up. CoreWeave is in a strong position to capitalise on this, ending 2025 with contracted capacity of 3.1GW, which is set to come online at the end of 2027.
“Our contracted but not yet active capacity represents latent revenue potential that we will monetise as built and delivered,” said CEO Mike Intrator on the Q4 2025 earnings call back in February.[5]
If there is a bear case to be made, it is the fact that getting capacity online is expensive. CoreWeave’s Q1 capital expenditure was $6.8bn, while its cash and equivalents stood at approximately $3.3bn at the end of March.[6]
The company also reported a net loss of $740m for Q1, a significant increase from $315m a year earlier. This was “driven by increased debt to support the continued scaling of our infrastructure and delivery of our contracted customer commitments,” CFO Nitin Agrawal said on the Q1 2026 earnings call in May.
As of 7 July, the average analyst price target for INTU of $473.90 represented a 68.5% potential upside from that trading day’s closing price.
Any suggestion that AI poses a risk to the financial software company’s business model and revenue has been dismissed.
“Customers buy confidence, not code – which is why they spend at least seven times more on accounting and tax experts than on software alone,” CEO Sasan Goodarzi said on the fiscal Q3 2026 earnings call in May. He added that AI is a clear tailwind for the company.[7]
Despite the optimism, there are signs that AI is causing some disruption. Intuit announced on its recent earnings call that it will cut 17% of its full-time workforce to “simplify our organisational structure to become a faster, leaner, more focused company.”
As of 7 July, the average analyst price target for MU of $1,564.61 represented 66.7% potential upside to that trading day’s closing price.
Micron has been benefiting massively from the AI-powered memory crunch. The company revealed in June that it had signed 16 strategic customer agreements covering 2026 that lock in sky-high memory prices. The agreements include a floor price, which comes with “a very robust gross margin for Micron, well above our peak quarterly margins in any past cycle,” CEO Sanjay Mehrotra said on the fiscal Q3 2026 earnings call.[8]
Given the stock’s red-hot run this year, the biggest risk is that any negative news could possibly trigger a collapse of the share price. There have also been signs in recent weeks that some investors believe the memory supercycle could be coming to an end and so are rotating out of the chipmakers.
To get a better understanding of whether CRWV, INTU and MU are undervalued and the upside is warranted, here is how their fundamentals currently stack up.
CoreWeave is not yet profitable, but its low forward P/S ratio and explosive revenue growth projected for the next couple of years mean that CRWV could be considered undervalued. The execution risk is that the company continues to raise debt to fund its infrastructure build-out.
Intuit’s revenue growth projections for the coming years may be modest, but if sentiment towards SaaS stocks improves in the coming months, then INTU stock could be set for a big lift.
Micron’s share price may have been on a massive run this year, but MU could still be considered undervalued based on its low forward P/E and forward P/S ratios.
While some concerns may remain about tech valuations, the AI trade should reward investors in the long term. The recent market pullback may have created a buying opportunity for CRWV, INTU and MU, with all three stocks offering huge upside to their average analyst price target.
This is for informational purposes only. CMC Markets UK Plc does not recommend any specific securities or investment strategies. Investing involves risk and investments may lose value, including the loss of principal. Past performance does not guarantee future results.
[1] https://www.bloomberg.com/news/articles/2026-07-01/meta-is-building-a-cloud-business-to-sell-excess-ai-compute
[2] https://www.coreweave.com/news/coreweave-and-meta-announce-21-billion-expanded-ai-infrastructure-agreement
[3] https://cmcaureon.substack.com/p/crm-now-and-asan-earnings-review
[4] https://www.ibtimes.com/samsungs-earnings-failed-impress-late-june-tech-sale-off-over-3805105
[5] https://s205.q4cdn.com/133937190/files/doc_financials/2025/q4/CORRECTED-TRANSCRIPT-CoreWeave-Inc-CRWV-US-Q4-2025-Earnings-Call-26-February-2026-5-00-PM-ET.pdf
[6] https://s205.q4cdn.com/133937190/files/doc_financials/2026/q1/CoreWeave-Inc-CRWV-US-Q1-2026-Earnings-Call-7-May-2026-5_00-PM-ET.pdf
[7] https://investors.intuit.com/_assets/_25d0832d8f64a0e6da9a25f2f35656c4/intuit/db/946/10372/webcast_transcript/Q3FY26+Earnings+Script+%281%29.pdf
[8] https://investors.micron.com/static-files/631b1a32-5537-46ae-8f40-82e42fc79dfe
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