Rosenblatt analyst Hans Mosesmann said "Micron delivered what the street expected" with mixed February quarter earnings and an outlook for the May quarter that was below expectations and he sees 2019 as an industry cycle bottom. Micron cut its capex plans again and said inventories are depleting at hyperscale players and should stabilize in the coming quarter, noted Mosesmann, who thinks Micron will emerge from 2019 without negative earnings and with a stronger DRAM/NAND portfolio. Following the company's report, Mosesmann reiterated his Buy rating and $75 price target on Micron shares.