What happened Shares of computer memory-maker Micron Technology (NASDAQ: MU) jumped out of the gate Tuesday, rising as much as 4.6% before turning tail and retreating to a 2.2% gain as of 11:25 a.m. ET. (Which is still respectable, given that the rest of the Nasdaq Stock Market is down about 1%!). You can thank investment bank Mizuho for the reprieve. Image source: Getty Images. So what Citing improving demand for memory in personal computers, in servers, and in smartphones as well, Mizuho announced today that it is upgrading shares of Micron stock (and Western Digital (NASDAQ: WDC) stock as well) to buy. In Mizuho's estimation, Micron stock that costs just over $85 a share today could hit $95 within a year. Western Digital stock that costs just under $60 could be an even better bargain, and worth $75, suggested the analyst in a note on StreetInsider.com. Now what Why does Mizuho think this? Well, looking ahead to what might happen in the first quarter of 2022, the analyst previously assumed that PC unit sales would be down 10% to 15% in the first quarter of the new year, but now thinks sales won't fall more than 5%, and could even hold steady against the fourth quarter of 2021 -- then improve as the year goes on, with total sales up 5% by the end of 2022. Server sales are expected to improve even sooner, with Amazon and Alphabet orders potentially returning early in the first quarter, predicts the analyst. And the forecast for handsets is similarly good. Instead of sales falling 10% sequentially, Mizuho now sees steady sales between Q4 2021 and Q1 2022. With Micron stock priced at a not-unattractive 16 times trailing earnings, and Western Digital stock looking positively cheap at less than 12 times earnings, both these stocks are positioned to outperform even if the market for computer memory improves only slightly. 10 stocks we like better than Micron TechnologyWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Micron Technology wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 10, 2021 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Amazon. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool has a disclosure policy.Source