Citi says Micron (MU) reported sturdy outcomes however guided beneath the agency’s recently-lowered estimates because the weak spot in NAND and extra DRAM stock within the PC and handset finish markets is worse than previewed. Nevertheless, Citi continues to imagine the DRAM stock correction ought to end by the Spring because it has been occurring for a number of months and DRAM firms are decreasing capex and manufacturing. It lowered estimates however reiterates a Purchase ranking and $150 worth goal on Micron.
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