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

To: Sam who wrote (4316)	1/23/2020 8:26:45 AM
From: Unwelcomeguest	Read Replies (1) \| Respond to of 4827

Thanks, Sam. I was wondering why WDC and MU were up nicely this morning in the PM. UWG

To: Sam who wrote (4316)

1/23/2020 9:21:20 AM

From: Unwelcomeguest

Read Replies (1) | Respond to of 4827

Some commentary regarding the Morgan Stanley upgrade.

Micron, Western Digital Stocks Climb After Morgan Stanley Turns Bullish -- MarketWatch
9:16 AM ET 1/23/20 | MarketWatch

Related Quotes


4:00 PM ET 1/22/20
Symbol	Last	% Chg
MU	59.17	0.00%
WDC	68.64	0.00%
Real time quote.

Micron, Western Digital Stocks Climb After Morgan Stanley Turns Bullish -- MarketWatch

Shares of Micron Technology Inc. (MU) and Western Digital Corp. (WDC) are up about 2% each in premarket trading Thursday after Morgan Stanley analyst Joseph Moore upgraded both stocks to overweight from equal weight. "We did not expect memory fundamentals to bottom this quickly, but as proof points grow, the ramifications are significant," Moore wrote. "The higher trough and the elevated valuation environment for semis suggests memory rerating potential even give the moves we have already seen." Micron's stock has added 32% over the past three months, and Western Digital's has gained 19% as the S&P 500 has risen 11%. Moore's channel checks point to "real conviction" from customers that the memory market will get tighter throughout this calendar year, which is causing them to put more inventory in place. Moore upped his price target on Micron's stock to $73 from $56, and he increased his Western Digital target to $88 from $64.

-Emily Bary

For more from MarketWatch: marketwatch.com

> Dow Jones Newswires

January 23, 2020 09:16 ET (14:16 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.