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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

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From: Unwelcomeguest	6/27/2019 8:56:52 AM
	1 Recommendation Recommended By Return to Sender of 4827

And, someone else has a different opinion from Wedbush. Also received in my eTrade account. Buy Western Digital Stock Because of Micron's Better-Than-Expected Earnings, Analyst Says -- Barrons.com 3:10 PM ET 6/26/19 \| Dow Jones By Tae Kim Western Digital stock has gotten some potentially good news from its competitor Micron's latest earnings report, according to Craig-Hallum. Western Digital (ticker: WDC) is a leading maker of NAND flash memory, which is used in smartphones and solid-state drives. The company also manufactures mechanical hard drives. On an earnings call Tuesday, fellow chip maker Micron (MU) noted signs of possible improvement in the industry. The back story. Western Digital stock has risen about 20% so far in 2019, roughly in line with the Nasdaq Composite. On Tuesday, Micron reported better-than-expected fiscal third-quarter results. Its outlook for the current quarter ending in August was a mixed bag. But investors took solace from its commentary that many of the company's customers have worked down their chip inventory levels. What's new. Craig-Hallum analyst Christian Schwab on Wednesday raised his rating for Western Digital stock to Buy from Hold. "Micron sees [an] improving NAND market and continues to take disciplined steps to further control supply," he wrote. The analyst noted Micron is cutting production of flash memory, which will likely lead to better chip pricing. Higher prices will help Western Digital's flash memory business. "We are encouraged by these steps to help return the NAND industry to a normalized level," he wrote. Western Digital stock rose 7.8% to $44.32 on Wednesday. Looking ahead. Schwab increased his price target for Western Digitalstock to $54 from $49. Write to Tae Kim at tae.kim@barrons.com > Dow Jones Newswires June 26, 2019 15:10 ET (19:10 GMT) Copyright (c) 2019 Dow Jones & Company, Inc.

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