Shares of reminiscence and digital storage specialist Micron Expertise (NASDAQ:MU) fell sharply on Tuesday. As of two:45 p.m. EDT at present, the inventory was down virtually 5%.
The inventory’s pullback comes as one analysis agency expressed concern over the outlook for dynamic random entry reminiscence (DRAM) pricing.
The tech stock fell on information that Edgewater Analysis analysts predicted softer demand and improved stock resulting in decrease DRAM costs within the second half of the yr.
Rosenblatt analyst Hans Mosesmann responded to the forecast by noting that Rosenblatt’s checks point out sturdy worth momentum for DRAM. Certainly, Mosesmann predicts pricing development all year long. The analyst even reiterated a $165 12-month worth goal for the inventory, which represents greater than 100% upside from the place it’s buying and selling at present.
Buyers will get extra perception into Micron’s latest enterprise efficiency and administration’s view for the remainder of the yr when the corporate reviews earnings later this month. It’s slated to announce its fiscal third-quarter outcomes on Wednesday, June 30.
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