Canaccord Genuity Morning Coffee on Micron Technology (MU): Oooh, ooh, Rumor Has It
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Price: $966.78 -0.77%
Rating Summary:
52 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
52 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Micron Technology (Nasdaq: MU): Oooh, ooh, rumor has it.
Yesterday, shares of Micron Technology climbed on rumour that Elpida Memory, the Japanese company that Micron is in talks to buy, recently received a big order from Apple (Nasdaq: AAPL). According to Taiwan’s DigiTimes, citing unnamed industry sources, Apple has placed substantial orders for mobile dynamic random access memory (DRAM) chips used in its iPad and iPhone devices with Elpida. The orders reportedly took up half the unit’s production and come in the wake of Micron’s recent talks to acquire Elpida’s operations after it was forced into bankruptcy protection due to adverse market conditions. If the DigiTimes report proves to be true, it could mean more sales for Elpida, along with a bigger place in the Apple supply chain for Micron Technology if it acquires Elpida. For Apple, the order would lessen dependence upon rival Samsung Electronics, which is the world's biggest DRAM maker and key Apple supplier. Representatives for Apple and Elpida did not immediately reply to a request for comment.
Yesterday, shares of Micron Technology climbed on rumour that Elpida Memory, the Japanese company that Micron is in talks to buy, recently received a big order from Apple (Nasdaq: AAPL). According to Taiwan’s DigiTimes, citing unnamed industry sources, Apple has placed substantial orders for mobile dynamic random access memory (DRAM) chips used in its iPad and iPhone devices with Elpida. The orders reportedly took up half the unit’s production and come in the wake of Micron’s recent talks to acquire Elpida’s operations after it was forced into bankruptcy protection due to adverse market conditions. If the DigiTimes report proves to be true, it could mean more sales for Elpida, along with a bigger place in the Apple supply chain for Micron Technology if it acquires Elpida. For Apple, the order would lessen dependence upon rival Samsung Electronics, which is the world's biggest DRAM maker and key Apple supplier. Representatives for Apple and Elpida did not immediately reply to a request for comment.
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