KeyBanc analyst Weston Twigg says that his updated memory supply model indicates that NAND bit supply growth should decelerate to 28% in 2019, down from 47% in 2018, with year over year supply growth dropping sharply in 2H19. The analyst expects NAND shortages by year-end. For DRAM, shipment and capacity restrictions should lower 2019 supply growth to 11%, down from 18% in 2018. Overall, Twigg expects both NAND and DRAM pricing to stabilize in 2H19, a positive for Micron (MU), Western Digital (WDC), and Silicon Motion (SIMO), and neutral for Seagate (STX). The analyst reiterates an Overweight rating on Micron.

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Sees Q4 revenue $1.7B-$2.0B, consensus $1.85B

Reports Q3 revenue $1.66B, consensus $1.68B. "Seagate's March quarter revenue grew 6% and non-GAAP EPS more than doubled over the December quarter as we benefit from improving cloud demand, our strong operating discipline and price execution. This combination sets the foundation for a return to target margin performance as the markets recover," said Dave Mosley, CEO. "This constructive demand backdrop is well-timed as we prepare to ramp our Mozaic products, anchored by industry-leading HAMR technology. HAMR-based products offer compelling economic value for our customers and position Seagate to drive further financial performance gains, as well as capitalize on favorable long-term demand for mass capacity storage."

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here