Micron (MU +2.6%) is trekking higher after receiving an upgrade to Buy from Drexel Hamilton,...

|About: Micron Technology Inc. (MU)|By:, SA News Editor

Micron (MU +2.6%) is trekking higher after receiving an upgrade to Buy from Drexel Hamilton, which cites improving DRAM spot memory prices. Digitimes is out with another column today (previous) reporting of a spot price rebound: it notes DRAMeXchange believes the spot price for 2Gb DDR3 PC chips has risen 14.6% this month, as capacity is shifted to server and (especially) mobile DRAM. Micron's gains come even though many Apple suppliers are off - Micron is about to become an iPhone supplier through the Elpida deal.