Two Wall Street analysts are recommending Micron Technology stock even as memory-chip prices keep falling
, citing the inexpensive valuation of the chipmaker’s shares.
Earlier this month, industry research firm TrendForce said DRAM pricing has fallen by about 30% so far in the first quarter. On Micron’s December earnings call, the company said it saw a decline in demand from its cloud computing customers. Near-term memory “shipments are well below bit consumption and against the backdrop of U.S. cloud [demand] returning in April-May time frame, supply/demand is improving and at equilibrium exiting CY19,” Pitzer wrote. Micron’s “valuation remains attractive.”
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