Don't Step In Ahead of Micron (MU) Earnings - Wedbush

Wedbush analyst, Betsy Van Hees, stepped up with a crystal clear stock call on Micron (NASDAQ: MU) "no need to step in here ahead of earnings". The analyst thinks that continued ASP declines in PC DRAM, pricing pressure in NAND, technology transitions/ramps, prolonged oversupply, and below seasonal end market demand have taken their toll on MU. This should lead to the FQ2 print to fall short of the Street and come in towards the low end of MU’s guidance ranges.

She takes the PT down to $10.50 from $11.50 and recommends investors stay on the sidelines as she continues to look for DRAM spot ASPs to hit bottom and signs of an inflection point in end market demand.

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $10.65 yesterday.

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