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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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Donald Wennerstrom

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To: Sam who wrote (81170)	9/20/2018 9:07:13 AM
From: Sam	2 Recommendations of 95572

Here is S.A.s note on Notable Call's note on Merrill's report: BofA out positive on Micron after DRAM/NAND meetings Sep. 20, 2018 8:50 AM ET\|By: Brandy Betz, SA News Editor Bank of America Merrill Lynch is out positive on Micron (NASDAQ: MU) following a meeting with Samsung ( OTC:SSNNF, OTC:SSNLF), SK Hynix ( OTC:HXSCF, OTC:HXSCL), and equipment vendors. BofAML notes that Samsung is experiencing product bottlenecks with low inventories for DRAM (one to two weeks for chipmakers versus normal three to four weeks) and NAND has fallen back to four weeks. The firm sees stable DRAM ASP, solid demand for server DRAM, and record high profits sustainable due to the combination of ASP, cost, and volume. BofAML sees a decent upside for Micron’s DRAM earnings on higher ASP. The firm reiterates a Buy rating and $100 price target. Source: Notable Calls. Micron shares are up 2.6% premarket to $46.22. The company reports earnings today after the close. Competitor Intel (NASDAQ: INTC) is up 1.2% to $46.72 while Western Digital (NYSE: WDC) gains 1.7% to $59.40. seekingalpha.com

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