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Actionable news in MU: Micron Technology, Inc.,

Despite Disappointing Outlook, Micron Technology Inc. Stock Is Still Attractive

  • Micron Technology, Inc. is on track with deploying its advanced DRAM and NAND technologies and improving its cost structure.
  • The recent drop in Micron stock price creates an excellent opportunity to buy the stock at an attractive price.
  • The average target price of the top analysts is at $13.96. However, in my opinion, Micron stock price could go even higher.
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Although Micron Technology (NASDAQ:MU) offered a bit of a disappointing outlook for the current quarter along its recent earnings release, in my opinion, now is an excellent opportunity to start a position in the stock with a good chance for high capital gain in the second half of 2016. Despite near-term challenging market conditions, investors should be encouraged by the fact that Micron is on track with deploying its advanced DRAM and NAND technologies and improving its cost structure. As a result, according to the company, it expects to improve significantly its competitive position in the second half of 2016 and beyond.

In DRAM, Micron has won several customer qualifications for its 20 nm DDR4 products; and the company expects its 20 nm LPDDR4 solutions to be qualified with most mobile customers by the close of the current quarter. For the current quarter, the company forecasts strong double-digit bit growth and related cost reductions in DRAM as more and more customers deploy the company's 20 nm technology. Micron is also moving forward with its 3D NAND SSDs for enterprise and client applications...


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