Micron Technology (MU): DRAM Pricing Will Create A Guidance Tailwind - Mizuho
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Buy rating on shares of Micron Technology (NASDAQ: MU) on the belief that DRAM spot pricing is starting to accelerate into October creating a tailwind for the NovQ guidance.
Since the end of May, the analyst notes PC-DRAM spot ASPs are up ~26% and contract pricing is up 15% through yesterday. This includes mobile DRAM enabled by more 4GB and 6GB smartphones in China. The analyst believes NAND trends are also positive, with Xiaomi and Asus introducing 256GB smartphones..
No change to the price target of $20.
Shares of Micron Technology closed at $17.59 yesterday.
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