Needham & Company Positive on Micron (MU) Joint 3D NAND Product with Intel (INTC)

Needham & Company analyst Rajvindra Gill reiterated a Strong Buy rating and $60 price target on Micron Technology (NASDAQ: MU) after the company and Intel (NASDAQ: INTC) announced a jointly developed 3D NAND technology, which stacks layers of data storage cells vertically in order to significantly increase capacity and reduce Cost per GB.

Gill commented, "According to MU/INTC, the new 3D NAND technology stacks flash cells vertically in 32 layers to achieve 256Gb MLC and 384Gb TLC, utilizing conventional floating gate technology. Sampling of the 384Gb TLCS design will be sampling in Spring while the 256Gb MLC 3D NAND version is sampling with partners today. We note MU-INTC have had a longstanding relationship going back to 2006 and the combination of both companies' tremendous R&D and engineering talents will yield a competitive advantage in 3D NAND."

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $26.57 yesterday.

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