- USITC voted to investigate DRAM products from Micron and server makers HPE, Super Micro Computer, and Lenovo under Section 337 based on a Netlist patent complaint.
- Micron shares pulled back for two consecutive days after hitting a recent high of $1,100.
- Citi raised Micron's price target to $1,300 from $1,150, citing better blended DRAM selling prices and robust AI demand.
- Citi expects Micron's fiscal Q4 revenue of $51 billion and EPS of $31.45, above market consensus.
Quotes
“Citi raised Micron's price target to $1,300 from $1,150”
“The USITC stated that the investigation is based on a complaint filed on behalf of Netlist”
“Citi currently expects Micron's fourth fiscal quarter revenue to reach $51 billion and earnings per share to reach $31.45”