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Fly News Breaks for March 24, 2016
MU
Mar 24, 2016 | 07:43 EDT
Wedbush says that weak PC DRAM and NAND prices, along with "prolonged oversupply," are among the factors that will cause Micron's Q2 results to come in below expectations. The firm also predicts that the company's Q3 guidance will be below expectations, and it predicts that DRAM spot prices will continue to fall. Wedbush cut its price target on Micron to $10.50 from $11.50 and keeps a Neutral rating on the shares.
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