Micron Flexes Muscles With Impressive 1Q Results; Raising FVE to $31 but Shares Remain Overvalued
Micron reported strong fiscal first-quarter results, largely fueled by favorable industry fundamentals. Management foresees the positive environment persisting into 2018, stemming from greater diversification in end-market exposure and potential share gains in areas such as solid-state drives and mobile memory. Meanwhile, the firm is on track for its major technology transitions, including DRAM bit crossover (majority of its output) to its most advanced 1X-nanometer process exiting calendar 2018...
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