Hmm, where have I heard the name Joe Moore before? Oh year, like every month he feels obligated to come out with yet another negative note on Micron. I wonder how many stocks he issues this many negative notes on, month after month after month?
Here is a post I made back in early March. March 4, actually, exactly a month ago. Like clockwork, good ol' Joe. They used say you could set your clock by the walks that Immanual Kant took every day.
Morgan Stanley seems to be determined to keep Micron down. They've come out with yet another bear call on them this past weekend. Actually, its the same call, they just repeat it every few weeks. Weird.
This is a partial comment from S.A.:
I am not saying MS can't be right, but I take this report with a grain of salt, because to me this is just another monthly Micron sucks from Morgan Stanley.
November 29th, 2018 "Morgan Stanley keeps Micron at $48 and Equal Weight but analyst Joseph Moore expects DRAM conditions to stay difficult through next year."
December 19, 2018 "Lower Price Target Equal Weight ? Equal Weight $48.00 ? $33.00"
January 14, 2019 "Micron -4.3% as Morgan Stanley sees no 2019 rebound"
February 11th, 2019 "Micron's 2019 recovery "highly unlikely" - Morgan Stanley"
and now a 50 page report in March. They haven't missed a month to tell us how bad the memory business and MU is. I wonder why thou protest too much???
Message 32053761
And in March, he decided to issue not one but two dark prophecies about Micron:
Morgan Stanley expects "tough" Micron print
Mar. 18, 2019 10:45 AM ET|About: Micron Technology, Inc. (MU)|By: Brandy Betz, SA News Editor
Morgan Stanley thinks Micron ( MU +0.7%) will report a "tough" Q2 this week and the print could diminish optimism that DRAM memory chips will see a recovery in H2.
Analyst Joseph Moore says he's surprised Micron didn't preannounce and that it isn't a question of how bad things are in the short term but rather "how long conditions will continue to deteriorate."
Moore doesn't expect "definitive answers" in the report, but the firm continues to see "discouraging lead indicators."
Morgan Stanley maintains an Equal-Weight rating on Micron with a $33 PT.
seekingalpha.com
So, the stock was in the high 30s, he has a PT of $33, yet he maintains a rating of "Equal-Weight"? Way to go, Joe. That really makes a lot of sense, lol.
I would add that it isn't just Moore and Morgan Stanley that is negative on Micron. A lot of analysts have come out with negative reports on the stock, yet it continues to steadily rise. IMHO, this is not a bad thing. Mr. Market appears to be predicting something that these analysts are not seeing. At least, they are not seeing it if we accept that their public comments accurately reflect what they think.
We'll have to see in the ripeness of time.
|
