Goldman Sachs Downgraded Micron Technology Inc. (MU) to Neutral
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Goldman Sachs downgraded Micron Technology Inc. (NYSE: MU) from Buy to Neutral and lowered their price target from $12 to $7.85.
The firm said, "we underestimated the impact tablets would have on the PC supply chain, with tablets cannibalizing notebooks faster and to a greater degree than we had expected."
Cost cuts were also negatively impacted by Inotera's delay of its 50nm transition, the firm noted.
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The firm said, "we underestimated the impact tablets would have on the PC supply chain, with tablets cannibalizing notebooks faster and to a greater degree than we had expected."
Cost cuts were also negatively impacted by Inotera's delay of its 50nm transition, the firm noted.
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