Micron Still Benefiting From Cyclical Upturn; Raising FVE to $34, but Shares Overvalued
Micron Technology reported strong fiscal second-quarter results that reached the high end of prior guidance, with memory industry demand continuing to generate powerful revenue for the semiconductor company. Management expects this demand to persist through fiscal 2018 as the firm’s transitions to 1X-nanometer DRAM and 3D NAND (64-layer) remain on track throughout the year. These transitions should enable improved cost metrics while also allowing the firm to increase revenue from hyperscale clou...Micron Technology provides memory and storage solutions. The company's portfolio of memory and storage technologies include Dynamic Random Access Memory, Not And, 3D XPoint? memory, and Not Or. The company's segments are: Compute and Networking Business, which includes memory products sold into client, cloud server, enterprise, graphics, and networking markets; Mobile Business, which includes memory products sold into smartphone and other mobile-device markets; Storage Business, which includes Solid-State Drives and component-level solutions sold into enterprise and cloud, client, and consumer storage markets; and Embedded Business, which includes memory and storage products.
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