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Micron: Another Negative NAND Report, This Time From Keybanc

Following a report Monday by Morgan Stanley regarding potential price declines for NAND flash chips, a report that seems to have contributed to a rout in semi stocks yesterday, and Micron Technology (MU) in particular, this afternoon comes another cautious note, this time from Keybanc’s Weston Twigg.

Twigg, who has a Sector Weight rating on Micron shares, relates data from research firm InSpectrum that, similar to Morgan Stanley, shows “material NAND pricing declines” taking place “through the first half of 2018."

Twigg cautions that the projections for NAND are preliminary at this point. He thinks Micron is actually “relatively well positioned as a memory play, given that two thirds of its revenue is DRAM related."