Drexel Hamilton Starts Micron Technology (MU) at Hold
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Price: $11.24 -0.62%
Rating Summary:
16 Buy, 10 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Rating Summary:
16 Buy, 10 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Trade MU Now!
Drexel Hamilton initiates coverage on Micron Technology (NASDAQ: MU) with a Hold. PT $7.00.
Analyst Richard Whittington thinks micron could find smoother waters next year as DRAM stabilizes and NAND ramps.
“Micron today derives only 10% of sales from PCs, near all DRAM where this product class amounts to 40% overall but has been surpassed by NAND at over 40%, a figure sure to rise in upcoming quarters as pricing firms across the mix,” said Whittington.
“The last year’s memory price declines have moved NAND-based solid state drives (SSDs) to economically viable $100 per 256MB enabling them to displace hard disk drives in servers and laptops while fueling a renewed mobile spurt,” add the analyst.
Overall, growth in cloud-driven data center servers along with a steadily improved Apple (Nasdaq: AAPL) product repertoire, several dozen new mobile device launches by year-end, and early-2013 Windows 8 introduction should steady a volatile memory market.
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 $6.65 yesterday, with a 52 week range of $3.97-$9.16.
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Analyst Richard Whittington thinks micron could find smoother waters next year as DRAM stabilizes and NAND ramps.
“Micron today derives only 10% of sales from PCs, near all DRAM where this product class amounts to 40% overall but has been surpassed by NAND at over 40%, a figure sure to rise in upcoming quarters as pricing firms across the mix,” said Whittington.
“The last year’s memory price declines have moved NAND-based solid state drives (SSDs) to economically viable $100 per 256MB enabling them to displace hard disk drives in servers and laptops while fueling a renewed mobile spurt,” add the analyst.
Overall, growth in cloud-driven data center servers along with a steadily improved Apple (Nasdaq: AAPL) product repertoire, several dozen new mobile device launches by year-end, and early-2013 Windows 8 introduction should steady a volatile memory market.
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 $6.65 yesterday, with a 52 week range of $3.97-$9.16.
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