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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.
SNDK 265.70+4.5%3:59 PM EST
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From: Sam8/15/2018 8:31:16 AM
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Cowen downgrades WDC for cost structure trailing INTC and MU
Aug. 15, 2018 7:35 AM ET|By: Brandy Betz, SA News Editor


Cowen downgrades Western Digital (NYSE: WDC) from Outperform to Market Perform with a $70 price target.

Analyst Karl Ackerman cites field work indicating “substantial, unabated competitive pricing tactics by WDC, Toshiba and to a lesser extent INTC to gain share of enterprise and client SSDs.”

Ackerman says WDC’s NAND cost structure trails Micron (NASDAQ: MU) and Intel (NASDAQ: INTC) and the practices should lead to WDC’s NAND ASPs “more than offsetting” NAND cost improvements.

Western Digital drops 2.4% premarket to $64.99.

Micron shares are down 1.5% to $49.85.

Intel drops 0.6% to $47.81.

seekingalpha.com
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