Form 10-Q MICRON TECHNOLOGY INC For: Nov 28
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Bernstein SocGen Group Defending Micron Technology (MU): '15% drop in premarket seems overdone'
December 19, 2024 6:28 AM ESTBernstein SocGen Group analyst Mark Li reiterated an Outperform rating and $120.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Micron FQ2 guidance was a big miss mainly due to a temporary slow down in eSSD, but DRAM still relatively solid. FQ1 results were in line but the 9% QoQ rev drop guided for FQ2 missed even our cautious forecast, mostly due to meaningful but temporary moderation in eSSD. DRAM outlook is solid but will drag FQ2 GM 1ppt down QoQ. On HBM, Micron increased CY25 TAM estimate & painted a... More
