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Fly News Breaks for December 13, 2018
MU
Dec 13, 2018 | 08:54 EDT
MKM Partners analyst Ruben Roy kept his Buy rating and $50 price target on Micron but lowered his FY19 EPS view to $10.10 from $11.11 ahead of its earnings report scheduled for next Tuesday. The analyst believes that the "complexities related to DRAM scaling coupled with likely capital expenditure cuts will limit bit growth over the next few years", pressuring next year's growth rate below 20%. With deteriorating demand trends into year-end, Roy states that a more conservative approach to his DRAM average selling price assumptions is warranted.
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