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Fly News Breaks for January 7, 2020
Jan 7, 2020 | 07:35 EDT
Cowen analyst Karl Ackerman upgraded Micron Technology (MU) to Outperform from Market Perform with a price target of $70, up from $50. The stock closed Monday down 97c to $53.56. The analyst's work indicates DRAM fundamentals may improve earlier than expected. This supports Micron's improved cost position relative to peers, Ackerman tells investors in a research note. The analyst says that while Mircon's NAND cost headwind to 128L is known, his analysis shows overall NAND costs are better than feared and that NAND should become profitable again as new smartphone launches tighten supply. These dynamics should result in not only an expansion of DRAM demand but also an expansion of DRAM average selling prices, contends Ackerman. He finds this "most bullish" for Micron given his view DRAM represents over 100% of the company's total operating profit. The analyst this morning also upgraded Western Digital (WDC) to Outperform from Market Perform.
News For MU;WDC From the Last 2 Days
Feb 22, 2020 | 07:19 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly: 1. U... To see the rest of the story go to See Story Here
Feb 21, 2020 | 11:46 EST
According to research firm Canalys, the coronavirus outbreak could lead to a drop of at least 3.3%, or as high as 9%, in the volume of PCs that will ship worldwide in 2020, TechCrunch's Manish Singh reports. The firm estimates that PC shipments will fall 10.1%-20.6% in Q1, and the impact will remain visible in Q2, when the shipments are expected to fall 8.9%-23.4%, Singh says. In the best-case scenario, the outbreak would mean 382M units would ship this year, down 3.4% from last year, Singh says, noting that in the worst-case scenario roughly 362M units would ship, down 8.5% year-over-year. Publicly traded companies in the space include Lenovo (LNVGY), HP Inc. (HPQ), Dell (DELL), Intel (INTC), Apple (AAPL), Micron (MU), Western Digital (WDC), Seagate (STX), and Microsoft (MSFT). Reference Link