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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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To: Sam who wrote (82534)	2/8/2019 6:55:28 PM
From: Donald Wennerstrom	4 Recommendations Recommended By oldbeachlvr Return to Sender Sam Sr K Read Replies (1) of 95572

Well, Goldman Sachs(Delaney) is undoubtedly upset that MU and WDC have done quite well these past 7 weeks. GS missed the bottom and they are not happy. Time to put out a "hit piece" on the companies to knock them down again to get some cheaper shares. Goldman Sachs is warning investors to not believe in the sharp rally in memory and hard-disk-drive (HDD) stocks so far this year. The firm's analyst Mark Delaney reiterated his Neutral ratings for both Micron Technology (ticker: MU) and Western Digital (WDC) shares, citing falling chip prices this quarter. He also likes to point out that it is probably going to be a long time(6 quarters) before the downtrend is over. The analyst said his recent conversations with industry contacts pointed to another 20% to 25% decline in memory prices during the first quarter, along with an about 20% drop in flash-memory prices. He noted the memory-chip sector is only in the second quarter of its current downturn, compared to historical downturns that typically last about six quarters. He maintained his $38 price target for Micron and $42 price target for Western Digital, and lowered earnings-per-share estimates for both companies through fiscal 2021. The last 7 weeks have seem great advances in all the semis and major indices. MU is up 8.26(27.2%) and WDC up 10.81(30.1%).

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