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Technology Stocks : Semi Equipment Analysis
SOXX 303.84+1.3%Dec 22 4:00 PM EST
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To: Donald Wennerstrom who wrote (76066)6/26/2017 2:56:03 PM
From: Sam1 Recommendation

Recommended By
Donald Wennerstrom

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Cowen's Acuri, Wells' Wong and Rosenblatt's Mosesmann are all out with bullish reports on Micron today. Helped the stock a lot in the first hour, but it succumbed to profit taking after 10:30. It is back up to around 32.50 now, we'll see if it can close above that level in the last hour of trading. Here is a summary of Mosesmann's report from streetinsider:

"Rosenblatt analyst, Hans Mosesmann, reiterated his Buy rating on shares of Micron Technology (NASDAQ: MU) after hosting three days of meetings in Shenzhen. The meetings stretched across a multitude of verticals along the supply chain the memory centric ones offer a preview into Micron’s May quarter results (call this Thursday).

The analyst believes that DRAM and NAND memory dynamics in calendar 2Q and into 3Q point unambiguously to an extended memory cycle with favorable, but not out-of-control, price tailwinds.

Overall, the analyst sees 3 takeaways:
1) Look for a nice beat and raise this Thursday
2) Consensus estimates should move up to our current FY18 Aug EPS of $6.30
3) the case for P/E degrading due to end-of-cycle notions is bunk

No change to the price target of $60."

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