Fly News Breaks for March 3, 2015
MU
Mar 3, 2015 | 07:07 EDT
As previously reported, Nomura downgraded Micron to Neutral from Buy. The firm is forecasting bit growth to exceed the market for the second year in a row and said Micron is undershipping demand in DRAM, as technology migrations limit supply output. Nomura believes Micron is behind in technology transitions and is expected to have a big 2016 investment year in order to increase DRAM capacity and migrate technology to NAND. Nomura's analyst said May consensus estimates are too high given continued PC weakness and the shift to mobile doesn't seem factored into current expectations. Nomura lowered Micron's May earnings estimate to 73c from 80c, FY15 estimate to $3.35 from $3.65 and FY16 estimate to $4.00 from $4.85.
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