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Fly News Breaks for February 29, 2016
SNDK, MU
Feb 29, 2016 | 07:45 EDT
Bernstein reports that PC DRAM prices dropped 6%-8% this month versus January. The firm adds that NAND prices declined 3% this month versus January, and it worries that NAND prices could drop further. Bernstein believes that memory prices are nearing a bottom, but it sees risk in memory stocks, as it thinks that prices could drop more than expected, given pessimism in the sector. It keeps an Outperform rating on Micron (MU) and a Market Perform rating on SanDisk (SNDK).
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