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To: Donald Wennerstrom who wrote (77172)	9/26/2017 4:28:15 PM
From: Donald Wennerstrom	1 Recommendation Recommended By Return to Sender Read Replies (2) \| Respond to of 95587

Micron Jumps 4%: FYQ4 Revenue, Profit Crush Consensus -- Barron's Blog 4:12 PM ET 9/26/17 \| Dow Jones By Tiernan Ray DRAM and NAND chip vendor Micron Technology ( MU) this afternoon reported fiscal Q4 revenue and profit that easily topped analysts' expectations, sending its shares sharply higher in late trading. Revenue in the three months ended in August roes 91%, year over year, to $6.14 billion, yielding EPS of $2.02 per share. Analysts had been modeling $5.94 billion in revenue and $1.82 per share. CEO Sanjay Mehrotra called the results "exceptional," crediting "solid execution and robust demand for our memory and storage solutions. Continued Mehrotra, "We expect healthy industry fundamentals to continue into 2018, supported by increasingly diverse end markets and applications." "We believe our focus on accelerating the deployment of advanced technologies and solutions will address our customers' evolving requirements, further strengthen our financial foundation, and enhance shareholder value." Gross profit margin rose to 51.3% from 48% in the prior quarter, and 18.6% in the year ago quarter. Micron said sales were helped by a 5% rise in the volume of DRAM chips compared to the prior quarter, and a 3% rise in NAND chip sales, combined with an 8% rise in DRAM prices and a 5% rise in NAND prices. Micron stock is up $1.42, or almost 4%, at $35.56, in late trading.

To: Donald Wennerstrom who wrote (77172)	9/26/2017 4:28:50 PM
From: Sam	1 Recommendation Recommended By Donald Wennerstrom Respond to of 95587

Way too early to call anything. Have to wait for the CC. IMHO, some people with a lot of money want this to go down tomorrow. Or at least not go up too much. And that is what this afternoon's selling was about. This piece is from earlier today. Meant to post it a couple of hours ago, forgot about it. Micron to Gain Thanks to Great DRAM/NAND Supply/Demand Picture Times are changing for the DRAM chip market, and Micron Technology, Inc. (NASDAQ: MU) is ready to prove to investors that it can take advantage of better DRAM/NAND demand along with advantageously low supply. Evercore ISI analyst C J Muse makes quite a strong bullish case, maintaining a Buy rating on shares of MU while lifting the price target from $40 to $50, which implies a 38% increase from where the stock is currently trading. (To watch Muse’s track record, click here) With the chip giant poised to capture $5 in EPS by the end of this year, which is substantially higher than this time of fiscal last year’s mere $0.25, the analyst cannot help but ask: “Is it truly different this time or does all of this simply portend a cyclical peak?” “We continue to point investors to the ‘sustainability’ of the current DRAM cycle,” elaborates the analyst, “led by” key factors, including better demand; “weighed down” supply; and “improving NAND competitive positioning in the move to 3D” (which Muse translates to mean EPS and free cash flow could keep going up next year. With this in mind, the analyst projects $7.20 in EPS for next year with free cash flow per share of $5.00. Muse explains, “As investors begin to believe in a longer and stronger cycle that can sustain elevated earnings, look for shares to move higher. Into earnings, we look for another beat and raise, with Aug Q’s annualized earnings approaching $8 (if not more) and Nov Q even higher as management confirms a still very healthy supply/demand setup for both DRAM and NAND.” Moreover, there is a new CEO in town for the chip giant, and the analyst expects Sanjay Mehrotra will focus a “sustained emphasis” upon “execution, improving competitive positioning, and cleaning up the balance sheet.” “So yes, this time is different,” surmises Muse, who believes: “Memory is structurally more important. Micron is closing the gap with Samsung. The DRAM oligopoly is cash-cowing DRAM and focused on investments in the faster-growing 3D NAND market. And yes, DRAM capex is moving higher, but this reflects rising capital intensity – not acceleration in capacity.” Wall Street is overwhelmingly putting its chips behind this chip giant, as TipRanks analytics exhibit MU as a Strong Buy. Based on 20 analysts polled by TipRanks in the last 3 months, 18 rate a Buy on Micron stock while 2 maintain a Hold. The 12-month average price target stands at $43.47, marking a nearly 21% upside from where the stock is currently trading. smarteranalyst.com