WDC - Micron viewed favorably as J.P. Morgan forecasts 8% DRAM growth

J.P. Morgan is maintaining its "positive stance" on Micron Technology (NASDAQ:MU) and several other dynamic random access memory-related stocks, as the investment firm believes the global market is set to rise 8% this year. A team of analysts, led by J.J. Park, noted that the NAND market is also expected to grow in 2022, rising 35% year-over-year, which would help the "mild" 3% year-over-year decline in the average selling price.  "We have revised up our 2022 memory revenue estimate by 8%, including 7%/11% upward revisions to DRAM/NAND revenue, respectively," the analysts wrote, adding that the revenue upside related to DRAM "is triggered by stronger-than-expected price outlook as evidenced by lower-than-expected supply growth." Micron (MU) shares fell slightly more than 2.5% to $75.65 in early Tuesday trading. In addition, the investment firm believes that price changes to NAND now reflect mild quarter-over-quarter growth starting in the second-quarter, compared to a previous outlook for

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Micron viewed favorably as J.P. Morgan forecasts 8% DRAM growth