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Technology Stocks : Semi Equipment Analysis
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To: Sam who wrote (82805)3/15/2019 12:42:51 PM
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Analysts cut 2019 estimates for Micron
Mar. 15, 2019 11:52 AM ET|About: Micron Technology, Inc. (MU)|By: Brandy Betz, SA News Editor


BofAML cuts its Micron ( MU +2.2%) profit expectations for 2019 through 2021 with this year's EPS view dropping from $8.53 to $6.89.

Analyst Simon Woo says Micron will suffer from price drops and the resulting margin squeeze. He expects DRAM and NAND ASPs to drop more than 20% sequentially in Q2.

Cross Research downgrades Micron from Buy to Hold and cuts earnings estimates for 2019 to 2020. Analyst Steven Fox notes this is his third such cut in the past six months and he doesn't see positive earnings growth happening for another four quarters.

Fox says the firm "underestimated the extent of excess DRAM inventories (and probably NAND as well)."

Micron will report earnings on March 20. Analysts expect $5.88B in revenue and $1.69 EPS.

Previously: Semis gain on bottom call, NAND orders (March 15)


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