He expects DRAM pricing to decline until 1Q23, though we expect the downturn offset by Capex cuts which set the DRAM industry up nicely for a rebound in 2023 no matter how lousy demand is.
He trimmed his estimates and reiterated a Buy rating as he believes Micron is exhibiting three signs of a bottom of lower Capex, trough valuation, and most of the downside in consensus estimates.
Price Action: MU shares traded lower by 0.02% at $50.57 on the last check Wednesday.
He trimmed his estimates and reiterated a Buy rating as he believes Micron is exhibiting three signs of a bottom of lower Capex, trough valuation, and most of the downside in consensus estimates.
Price Action: MU shares traded lower by 0.02% at $50.57 on the last check Wednesday.
