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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc. -- Ignore unavailable to you. Want to Upgrade?

To: bigchad who wrote (3465)	1/25/2018 9:38:54 AM
From: Charlie Smith	2 Recommendations Recommended By franklin1 Unwelcomeguest Read Replies (1) \| Respond to of 4829

Mizuho noted Hynix (HXSCL) reported 4Q results last night. Overall no surprise: DRAM remains strong with Server DRAM growing 30% y/y. Hynix noted Data Centers driving DRAM and Enterprise NAND demand and continued mobile DRAM strength. DRAM pricing in 4Q was up 9% q/q, while NAND pricing was up 4% q/q. Surprisingly, Hynix noted with NAND capacity following similar trends as LY that 2H18 NAND supply could be tight. They believe the commentary should be positive for MU and WDC, given recent concerns on a 20-30% NAND price fall in 1H18. They believe Hynix commentary pointed to disciplined DRAM-NAND capacity, and continued client/Enterprise SSD and smartphone content demand driving a better balance. Reiterating their Buy rating on MU ($50 PT) and WDC ($105 PT), trading at 5-7x P/E as N-T 1H18 trends look better than concerns.