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Fly News Breaks for December 5, 2016
MU
Dec 5, 2016 | 07:38 EDT
Brean Capital analyst Mike Burton noted Micron is scheduled to report earnings later this month but pre-announced the quarter would be better than expected. He said conservative guidance has become the norm for the company, but believes the near-term supply chain fundamentals for both DRAM and NAND will likely persist through the middle of calendar 2017. The company's cost cutting initiatives are likely on track and tight inventory levels will help contribute to earnings power going forward. Burton reiterated his Buy rating on Micron shares.
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