Piper Sandler ទម្លាក់​ចំណាត់​ថ្នាក់​បច្ចេកវិទ្យា Micron ទៅ​ជា "ទម្ងន់​មិន​គ្រប់​គ្រាន់"

Don’t expect shares of Micron Technology Inc (NASDAQ: MU) to recover any time soon, a Piper Sandler analyst said in a note on Friday. The stock is down nearly 30% from its year-to-date high.

Micron is overexposed to consumer markets

Harsh Kumar downgraded Micron to “underweight” this morning and slashed his price target to $70 a share, which is roughly where the stock is already trading right now.

តើអ្នកកំពុងស្វែងរកព័ត៌មានរហ័សព័ត៌មានជំនួយក្តៅនិងការវិភាគទីផ្សារមែនទេ?

ចុះឈ្មោះសម្រាប់ព្រឹត្តិប័ត្រ Invezz ថ្ងៃនេះ។

He’s dovish on MU because the Boise-headquartered company has a relatively oversized exposure to the consumer markets, including mobile and personal computers. Its core DRAM business is also seeing price declines.

Price declines could accelerate as broader economy slows and consumer spending stalls. NAND pricing is also decelerating. Where demand curve shifts down, MU will continue to see pressure on pricing, which could be detrimental to earnings.

Bryn Talkington agrees with the call

Micron’s exposure to mobile, PCs and other consumer markets is estimated to be more than 50%, which, as per Requisite Capital’s Bryn Talkington, indeed is of concern. On “ របាយការណ៍ពាក់កណ្តាលម៉ោង” របស់ស្ថានីយទូរទស្សន៍ CNBC, នាង​បាន​និយាយ​ថា:

During COVID, everyone upgraded because we were at home and relied more on technology. So, I think it’s a good read through that we’ve already upgraded and the next couple of quarters or next year or so, you could just see lower demand.

Last week, however, Micron CEO Sanjay Mehrotra said fiscal 2022 will be a record revenue year for the semiconductor manufacturer. The stock currently trades at a PE multiple of 8.81.