Storage news ticker 24 Sep

UBS analyst Timothy Arcuri reiterated a $1,625 price target for Micron (MU), citing strong fundamentals, share buybacks, and long-term contracts. Micron is expected to report a 352% revenue increase and 10x EPS jump in Q4. The stock trades at less than 7x 2027 expected EPS, according to UBS.

Bank of America reiterated a Buy rating on Micron (MU) with a $1,550 price target, citing potential 45% upside. The firm believes Micron's gross margins and AI demand will support earnings growth, despite concerns about future memory pricing. Micron's Q3 revenue surged to $41.46 billion, with strong guidance for Q4. Bank of America also anticipates share buybacks post-December 9, which could boost per-share earnings.

Michael Burry increased short positions in Micron Technology, Nebius Group, Palantir Technologies, and the iShares Semiconductor ETF (SOXX), citing potential oversupply in the semiconductor industry. The Nasdaq-100 hit a record high before retreating. Burry argues that AI-driven demand for memory chips may lead to future oversupply, impacting these companies' profitability. He also holds long positions in several other stocks, including MercadoLibre.

The U.S. International Trade Commission (ITC) is investigating Micron (MU), Supermicro (SMCI), and HPE (HPE) for potential patent infringement of Netlist (NLST) memory technology. Netlist seeks exclusion and cease-and-desist orders. Shares of MU, SMCI, and HPE traded lower, with SMCI down 3.4%. Netlist's CEO cited a recent Samsung settlement as a benchmark for its IP value. Micron previously won a legal case against Netlist, invalidating five patents.

Micron Technology (MU) has gained 270% this year. Citi raised its price target to $1,300, citing strong DRAM pricing and tight supply. Q3 revenue was $41.45B, up 345% YoY. Analysts expect Q4 revenue of $51.2B and EPS of $31.56. The stock's outlook depends on future guidance for NAND and DRAM markets.

Acer's Jason Chen claims memory chip shortages are over, citing increased Chinese production. He argues dominant suppliers (Samsung, SK Hynix, Micron) signal coordination to maintain prices. Chen expects price declines by mid-2027, with Chinese chips already in products from Acer, HP, Asus, and Lenovo. He links memory price hikes to inflation, urging Fed attention.