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IFX - Infineon Technologies AG News Story

€31.62 1.0  3.3%

Last Trade - 14/05/21

Large Cap
Market Cap £35.44bn
Enterprise Value £38.65bn
Revenue £8.61bn
Position in Universe 36th / 1053

BUZZ-Street View: Micron forecast downbeat but 2H demand trends solid

Fri 27th September, 2019 11:54am
** Micron Technology Inc  MU.O  forecast first-quarter
profit below Wall Street targets, saying it was "mindful" of
economic and trade uncertainty even though there were signs of
an uptick in memory chip demand*:nL3N26H4DE
    ** MU shares slip 6% to $45.68 premarket; U.S. peers Nvidia
 NVDA.O , Intel  INTC.O  and Advanced Micro Devices  AMD.O  down
between 0.7% and 1%   
    ** Profit warning also weighs on European peers Infineon
 IFXGn.DE  and ASML  ASML.AS , which fell 1% and 0.5%,
     J.P.Morgan ("overweight," PT $65) sees inventories dropping
in 2H and, as a result, expects overall pricing to improve in
both DRAM and NAND memory chips 
    ** Evercore ISI ("outperform," PT $60) says investors should
continue to want to own Micron into this rational supply
environment, particularly with the DRAM supply/demand improving
sooner than initially expected
    ** Needham ("buy," PT $60) says despite excess NAND and DRAM
inventories, pricing still remains competitive and says it
remains constructive on Micron and expects demand cycles to
improve in 2020 
    ** However, Piper Jaffray ("neutral," PT $46) says despite a
better demand environment in the second half of the year, market
oversupply will continue to act as a headwind to significant
pricing growth

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((; +1 646 223 8780))
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