Why Micron’s Stock Is Trading Lower Today

Micron Technology (NASDAQ: MU) shares are trading lower on Thursday after Deutsche Bank downgraded the stock from Buy to Hold.

A report also mentioned that DRAM and NAND flash currently has an oversupply until the first half of 2021, according to the president of Apacer Technology.

Finally, Micron CFO David Zinsner said today at KeyBanc’s the Future of Technology virtual conference that the company there is some near-term uncertainty surrounding the company’s revenue forecast over the next few quarters due to the pandemic.

Micron Technology historically focused on providing DRAM for PCs and servers. The firm then expanded into the NAND flash memory market. It increased its DRAM scale with the purchase of Elpida (completed in mid-2013) and Inotera (completed in December 2016).

Micron Technology shares were trading down 4.74% at $46.18 on Thursday at the time of publication. The stock has a 52-week high of $61.19 and a 52-week low of $31.13.

Latest Ratings for MU

Date

Firm

Action

From

To

Aug 2020

Deutsche Bank

Downgrades

Buy

Hold

Jun 2020

RBC Capital

Maintains

Outperform

Jun 2020

Mizuho

Maintains

Buy

View More Analyst Ratings for MU
View the Latest Analyst Ratings

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