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Micron Falls: DRAM Prices Weak, Says Morgan Stanley, Apple's iPhone Notwithstanding
2015-06-15 17:14:56| Semiconductors - Topix.net
Shares of DRAM and NAND maker Micron Technology are down $1.11, or 4.4%, at $24.02, after Morgan Stanley's Joseph Moore cut his rating on the shares to Underweight from Equal Weight, and cut his price target to $21 from $30, writing that a build-up in DRAM memory chips and a ratcheting-back of DRAM use in mobile devices means pricing and volume will be weak. Pricing of DRAM, based on his "checks" with entities in Taiwan, is weak in PC, servers , and in graphics applications, writes Moore: Everyone we talked to believed that PC, server, and graphics pricing will remain under pressure in 3q, and several believed it will remain pressured all year, while others were more optimistic about a seasonal recovery in 4q.
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Category:Electronics and Electrical