MKM Partners analyst Ruben Roy raised his price target on Micron to $50 and kept his Buy rating after its Q2 results, saying the company continues to navigate a "challenging environment" amid a "bottoming" process for the memory industry. The analyst remains positive in Micron's long-term prospects and the outlook for memory, since content use will likely "increase as emerging applications such as AI, autonomous driving, machine learning, and data analytics/data science continue to evolve." Roy believes that Micron's "aggressive" CapEx and capacity cuts will be "effective in progressing through the current cycle."