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Technology Stocks : Semi Equipment Analysis

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From: Sam	9/10/2019 9:13:08 AM
	3 Recommendations Recommended By FJB oldbeachlvr Return to Sender of 95500

Micron: Rises as KeyBanc sees signs of recovery in memory demand 49 minutes ago Reuters * Shares of Micron Tech up 0.8% at $49.50 premarket * KeyBanc raises PT to $58 from $48 on signs of recovery in memory demand; median PT of 34 brokerages is $50 * Brokerage says barring a recession, memory tends to improve through 2020 and Micron is well positioned to benefit from long-term drivers related to compute and storage * Says DRAM, which accounts for roughly 70% of MU's revenue, has a likely healthier market than NAND in the long run due to fewer competitors, high barriers to entry and supply constraints related to scaling limitations * Expect both NAND and DRAM inventories to decline in 2H, with NAND pricing likely to steadily increase through H2 and DRAM pricing likely to stabilize by end of the year - KeyBanc * Other chipmakers - Advanced Micro Devices Inc, Nvidia Corp and Intel Corp - marginally lower * Also on cards is a press event by MU's customer Apple Inc, where it is expected to unveil its latest iPhones * MU up 57.8% this year, outperforming the 36.5% gain in the broader Philadelphia chip index

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