Seeking Alpha

Micron rallies on positive Jefferies investor day comments

  • Micron Technology (MU +3%) shares are strong after positive comments emerge from a Jefferies investor day.
  • MU believes it is unlikely to see the effect of recent declines in NAND contract prices reported by DRAMeXchange, Jefferies reports; MU also is seeing stable DRAM prices and is confident of continued stability in DRAM prices.
  • The firm recommends buying MU "while investors are still not fully convinced of structurally positive fundamentals in DRAM and NAND"; it also offers favorable comments on AMD (AMD -1%), NXP Semiconductors (NXPI +2%) and Xilinx (XLNX +1.2%).
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