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Technology Stocks : Micron Tech

MU 221.91

+0.8%

Oct 28 3:59 PM EDT

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From: JakeStraw	9/12/2018 8:16:08 AM
	of 15

Goldman Sachs downgraded Micron to neutral from buy on Wednesday, sending the shares tumbling in premarket trading and further exasperating a violent sell-off in memory chip stocks this month. The investment bank's analyst Mark Delaney cited "incremental weakness in both DRAM and NAND fundamentals per our discussions with industry contacts, and also based on our supply/demand analysis." "Memory downturns usually last for several quarters and can see an acceleration in price declines, as customers delay procurement to wait for lower prices when possible, causing a snowballing effect that can lead downturns to be worse than initially anticipated by investors," Delaney said in a note to investors. cnbc.com

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