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Long

$MU Is A Buy On Dips To $40

NASDAQ:MU   MICRON TECHNOLOGY INC
$MU selloff looks to be overdone in our opinion. Other analysts agree with this assessment.

Needham raised its Micron (NASDAQ:MU) target from $50 to $60 after Micron's earnings report.

Taking note of Micron's downside gross margin guidance - attributable to the excess NAND inventory and related pricing - Needham nevertheless sees several upcoming catalysts for the memory cycle, including 5G and a normalized supply/demand.

More action: Piper Jaffray raised its MU target from $36 to $46, but notes concerns over NAND supplies and ASP pressure.

More action: Rosenblatt jacked its price target to $80 from $60.

Micron Technology , Inc. manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels. The company provides memory products for the cloud server, enterprise, client, graphics, and networking markets; memory products for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer SSD markets; other discrete storage products in component and wafer forms for the removable storage markets, as well as 3D XPoint memory products; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its internal sales force, independent sales representatives, distributors, and e-tailers; and Web-based customer direct sales channel, as well as through channel and distribution partners primarily to original equipment manufacturers and retailers. The company has strategic collaboration with BMW Group. Micron Technology , Inc. was founded in 1978 and is headquartered in Boise, Idaho.

As always, trade with caution and use protective stops.

Good luck to all!
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