What happened Recall and shares of digital storage specialist Micron Expertise (NASDAQ:MU) fell sharply on Tuesday. As of 2:45 p.m. EDT currently, inventory was down about 5%.
The pullback of inventory comes after an analysis agency raised concerns over the dynamic random entry reminiscence (DRAM) pricing approach.
The tech stock fell on the news that Edgewater Analysis analysts predicted softer demand and an outperforming stock resulting in lower DRAM costs in the second half of the year.
Rosenblatt analyst Hans Mossmann responded to the forecast, saying that Rosenblatt’s checks point to strong price momentum for DRAM. Certainly, Mossmann predicts pricing growth throughout the year. The analyst also reiterated the $165 12-month target for inventory, which currently represents more than 100% from the place of buy and sell.
Buyers will get more insight into Micron’s latest business efficiency and governance outlook for the rest of the year when the company reviews earnings later this month. It is set to announce its fiscal third quarter results on Wednesday, June 30.
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