Micron's Potential Revenue Decline Offset by Upcoming Cyclical Recovery: Analyst
Portfolio Pulse from Anusuya Lahiri
Raymond James analyst Srini Pajjuri maintains an Outperform rating on Micron Technology, Inc (NASDAQ:MU), despite expecting a potential revenue decline due to China's CAC decision. However, he believes the impact will be short-lived and anticipates a cyclical recovery starting in the second half of FY23. He also expects customer inventories to normalize by the calendar 4Q and predicts better supply discipline in the industry due to the current downturn.

June 27, 2023 | 7:54 pm
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Micron Technology, Inc (NASDAQ:MU) is expected to face a short-term revenue decline due to China's CAC decision. However, the analyst predicts a cyclical recovery starting in the second half of FY23.
The analyst expects a short-term revenue decline for Micron due to China's CAC decision. However, he believes this impact will be short-lived and anticipates a cyclical recovery starting in the second half of FY23. This suggests a neutral short-term impact on the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100