MU
BNP Paribas downgraded Micron's investment rating to Underperform and downgraded its target price by 52%. As a result, the stock is down 5.5%. The main rationale is a 25-year HBM oversupply concern.
The report surprisingly assumed a 25-year HBM demand of 168k/mo (assuming 132k/mo this year), not taking into account that there are already over 250k/mo HBMs sold out in the second half of this year.
Sanjay Mehrotra CEO's strong objection is expected at the Micron earnings call scheduled for September 26 (KST).
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10baggerbamm : what I really question is when you have a report like this that comes out, the prior day how many shares did they short? tell their their hedge funds buddies.. look we're going to drop this bombshell tomorrow morning so short everything and tomorrow morning you'll be able to cover
goodfortune : Micron not only depend on hbm…they have many other business
Money Thrill 10baggerbamm : fully agree, such statements are not based on anything and serve to manipulate prices