Cleveland Research analyst Chandler Converse says Micron Technology's August quarter likely finished strong on improved quarter-over-quarter DRAM demand and reduced average selling pressure. However, the analyst's research, while pointing to a better 2020 demand setup, indicates some risk to bit growth in the company's November quarter outlook as a result of buy-ahead in the August quarter and CPU supply issues. Converse keeps a Neutral rating on Micron but sees upside to the stock over the next 12 months as the memory cycle likely bottoms and pricing improves.