City says Micron (in) reported strong results but were below estimates the company recently lowered as weakness in NAND and rising DRAM inventory in the PC and phone end markets were worse than previewed. However, Citi still believes the DRAM stock correction should end by spring as it has been happening for several months and DRAM companies are cutting capex and production. It lowered estimates but reiterated a Buy rating and $150 Price target On micron.
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