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Technology Stocks : Semi Equipment Analysis
SOXX 299.81+2.7%4:00 PM EST
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To: Return to Sender who wrote (81841)11/29/2018 6:40:23 PM
From: Donald Wennerstrom1 Recommendation

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Sanjay's optimistic message at yesterday" conference didn't last long. Bought some downgrades in target prices as well.

Micron Stock Falls As Analysts Weigh In On Update To Outlook -- MarketWatch
8:46 AM ET 11/29/18 | MarketWatch

Stifel analyst Kevin Cassidy lowered his price target on Micron Technology Inc. (MU) shares to $100 from $103 late Wednesday, though he remained bullish on the company's potential. Cassidy weighed in on the company's latest update to its outlook, which was issued at a Wednesday conference. Micron now expects revenue at the low end of its previously stated revenue forecast range of $7.9 billion to $8.3 billion, though it expects earnings per share to come in above the prior midpoint of $2.95. "

While recent concerns of over supply of memory has Micron shares trading down significantly, we view [the] comments as further evidence of a rational memory market as the memory companies manage for profitability rather than market share," wrote Cassidy, who reiterated his buy rating on the stock.

Raymond James analyst Chris Caso took a less upbeat view. "While few details were provided, it is clear trends are moving directionally lower," he wrote. "The question is how much lower." Micron reports results on Dec. 18 and Caso expects "another downward revision" given the tone of commentary across the industry.

Micron shares have fallen 25% over the past three months, while the S&P 500 is down 5.8% over that period.
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