DRAM trends remain challenging with average selling prices "down significantly" as data center original equipment manufacturers continue to digest excess inventory with China weak and slowing capex, Mizuho analyst Vijay Rakesh tells investors in a research note. On the NAND side, after "significant" 2018 price declines, price declines are moderating though NAND supplier inventory is still high, says Rakesh. To reflect DRAM demand and price declines, the analyst cut his May quarter and 2019 sales and gross estimates for Micron Technology. He also dropped his price target for the shares to $45 from $47 but keeps a Buy rating on the name.