Analyst Quinn Bolton from Needham maintained a Buy rating on Micron (NASDAQ:MU) but lowered the price target from $140 to $120. Despite Micron’s recent earnings slightly exceeding expectations, weaker guidance due to sluggish consumer markets and data center SSD segments led to inventory adjustments, particularly in NAND. However, Micron’s strength in high bandwidth memory (HBM) and data center DRAM is expected to remain strong, helping to offset challenges in NAND. The revised price target reflects these factors while maintaining confidence in Micron’s long-term outlook.
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