Micron Earnings Hopes Rely on Ending Memory Chip Glut

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  • #20201
    ThePitBoss
    Participant

    $MU has scaled back its forecasts on DRAM…

    [article]1422[/article]

    #20205
    ThePitBoss
    Participant

    Micron Technology, Inc.
    NASDAQ: MU Closed Up Heading Into Earnings Tomorrow
    $40.37 $+0.76 (+1.92%)

    #20327
    ThePitBoss
    Participant

    RBC Capital Markets reinstated Micron as Outperform, up from a prior Market Perform rating on Thursday after $MU closed down 2.7% at $39.23 on Wednesday after Infineon warned and after IHS Market projected weaker DRAM demand trends for 2019.

    #20417
    ThePitBoss
    Participant

    Micron Technology Inc. (NASDAQ: MU) was downgraded Monday to Market Perform from Outperform with a $45 price target at Cowen.

    #20484
    ThePitBoss
    Participant

    [b]Micron Technology (NASDAQ: MU) started with a Neutral rating at Nomura/Instinet.
    [/b]
    52-week range of $28.39 to $64.66. The consensus price target is $46.52.

    #21036
    ThePitBoss
    Participant

    [color=red][b]Micron Technology Inc. (NASDAQ: MU) target price lowered to $28 from $32 at Baird.

    Micron Technology, Inc.
    NASDAQ: MU
    32.77 −1.38 (-4.04%)[/b][/color]

    #21043
    ThePitBoss
    Participant

    J.P. Morgan lower price target on Micron to $50 from $64

    Due to Huawei component bans amongst other things.

    “In advance of the call, we lower our revenue / EPS estimates for MU for F3Q and out quarters, primarily as a result of the component bans to Huawei (13% customer during Micron’s F1H19), worse than anticipated DRAM pricing and with expectations of a slower recovery as we look to the back half of this year and into next year on macro uncertainty/trade tensions. ”

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