Mizuho analyst Vijay Rakesh maintained Micron Technology Inc (NASDAQ: MU) with a Buy and raised the price target from $72 to $82.
MU reports its Q4 earnings on September 27 after the close. The analyst expects revenue, gross margin, and EPS of $3.9 billion (10.6%) and ($1.19), which is in line with the consensus of $3.9 billion (10.0%) and ($1.18).
Near-term inventory remains elevated at DC customers, though Mobile/PC inventory is mostly standard. Rakesh estimates DRAM contract pricing in the September quarter is down ~5%, with declines moderating into the December quarter at down 3% Q/Q.
Also Read: AI Demand, Positive Chinese Market Boost Micron's Pricing Dynamics Ahead Of Earnings, Says Analyst
In NAND, the analyst estimates contract pricing for the September quarter to be flat and improve into the December quarter at up 0-5% Q/Q.
For MU's November quarter, he estimates $4.5 billion, (1.0%) and ($0.78), above consensus of $4.2 billion, (0.8%) and ...