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Fly News Breaks for January 2, 2020
Jan 2, 2020 | 08:24 EDT
Benchmark analyst Mark Miller noted that NAND pricing improvements were seen in the December quarter for the first time since early 2017, but he does not believe the current upcycle will be as strong as the prior 2017-18 upcycle. While he believes the industry is currently at a cyclical trough, he also thinks this view is accepted by most investors and he believes the share price of Western Digital "fully discounts" expected NAND price improvements. Miller keeps a Sell rating on Western Digital shares.