What 7 Analysts Think of Micron Technology's Q4: Excess Inventory, Product Demand
Portfolio Pulse from Priya Nigam
Micron Technology's Q4 results were largely in line with expectations, but shares fell in early trading. Analysts from BMO Capital Markets, Piper Sandler, Mizuho Securities, Stifel, BofA Securities, Needham, and Morgan Stanley provided their takeaways. Most analysts maintained their ratings, with price targets ranging from $58 to $82. Key points included excess inventory clearing in most end markets, expectations of improving inventory levels, and anticipation of DRAM and NAND pricing improvement into 2024.

September 28, 2023 | 4:45 pm
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Micron Technology's stock fell despite positive Q4 results. Analysts expect inventory levels to improve and DRAM and NAND pricing to increase into 2024.
Despite positive Q4 results, Micron Technology's shares fell in early trading. This could be due to the market's reaction to the company's guidance and analyst ratings. However, analysts expect inventory levels to improve and DRAM and NAND pricing to increase into 2024, which could potentially have a positive impact on the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100