Morgan Stanley Sees Persistence Headwinds For Micron Even As Memory Prices Start To Lift
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Joseph Moore reiterated an Underweight rating on Micron Technology (NASDAQ:MU) with a price target of $58.50. Despite Micron reporting better-than-expected quarterly losses and sales, the company is expected to face headwinds in the next two quarters due to running out of reserved inventory. The company's shares are trading lower by 4.41% at $65.20.
September 28, 2023 | 7:09 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Micron Technology faces potential headwinds in the next two quarters due to inventory issues, despite better-than-expected quarterly results. Morgan Stanley maintains an Underweight rating on the company's shares.
Micron Technology reported better-than-expected quarterly results, but the company is expected to face headwinds in the next two quarters due to running out of reserved inventory. This, coupled with Morgan Stanley's Underweight rating, could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100