Evercore ISI analyst C.J. Muse expects Micron to report another beat and raise quarter, with August quarter's earnings approaching $8 annualized, and November quarter earnings even higher given the healthy supply/demand setup for both DRAM and NAND. Muse expects FY18 capex guidance of approximately $7B versus $5.2B in FY17, and even with the increase, for free cash flow per share to accelerate to $5 in CY18. The analyst raised his price target on Outperform rated Micron to $50 from $40 to reflect increased confidence in the sustainability of current trends.