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Fly News Breaks for August 21, 2017
MU
Aug 21, 2017 | 08:21 EDT
Citi analyst Christopher Danely expects NAND supply to overtake demand in Q4. He also expects NAND supply growth to eclipse Bit demand growth in 2018. However, the analyst says he "not worried" about Micron. He says that only 21% of its profits is derived from NAND, and he expects its DRAM business which he says accounts for 79% of its profits to improve in the near-term. The analyst does not expect NAND pricing to be negatively impacted until 2H18. Danely keeps a $45 price target and a Buy rating on Micron.
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