Micron Technology (MU): DRAM Pricing Rising Faster Than Expected, Here's Why - Baird
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Baird analyst, Tristan Guerra, reiterated his Outperform rating on shares of Micron Technology (NASDAQ: MU) after the supply of DRAM tightens further indicating a coming pricing increase for NAND. The analyst's recent checks indicate further tightening in DRAM, while NAND is in shortage with price increases across NAND's three major segments. DRAM tightening is driven by slightly better-than-expected PC demand in 4Q, DRAM inventory replenishments at PC OEMs, and Hynix DDR4 supply.
The analyst believes DRAM tightening is driven by slightly better-than-expected PC demand in 4Q, PC DRAM inventory replenishments, and Hynix DDR4 supply. PC OEMs are replenishing DRAM inventories this quarter, concerned about supply availability. This translates into an increase in DRAM in 4Q QoQ.
No change to the price target of $22.
Shares of Micron Technology closed at $16.94 yesterday.
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