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Opinions David Burrows
Micron TechnologyMUBUYJan 26, 2015
David BurrowsStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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They report Wednesday. This has a habit of shares running up till reporting, then it drops after reporting. If you can handle this volatility, buy some before, then after the report. Their prospects are directly tied to a winder economic expansion. Also, there's a new refresh cycle coming in PC sales.
Premium contentPremium contentHe sold a third of his holding. The king of DRAM semis. Likes it, but buy it cheaper. By the end of the year buy it at $60 then $55.
Kim BoltonPremium contentWe reiterate MU, one of the world's largest producers of computer memory chips, as a TOP PICK. Although the sector is in a cyclical slow down, the company continues to build cash reserves, buy back stock and retire its debt. It trades at under 2x book. We continue to recommend a stop at $52, looking to achieve $75 -- 17% potential upside. Yield 0.7%
(Analysts’ price target is $74.79)
Premium contentThe decline in demand for PCs is unsustainable, and we've moved past the phase of cheap computes for our homes during Covid. If Samsung indeed cuts production, there will be a Q3 upside surprise in computers and semis. Whenever the semis cycle turns positive, Micron goes from the worst performer to the best. Buy this now.
Both Samsung and Micron are pulling back in production, so history tells us we are within two quarters before semis bottom in pricing. Can't tell the exact timing, but you need to start buying Micron NOW, which is why shares jumped today even after a lousy quarter. Semis are a boom and bust business with gluts and shortages. Highly cyclical.
Semiconductors are a great sector to watch. Today semiconductors are what copper used to be. When they are performing well, this tells you that people have strong expectations for future growth in the economy. There is a very short inventory cycle in semiconductor companies. When the economy is getting better, their orders tend to be coming quite quickly. The group is acting very, very well. This looks very attractive and is not an expensive stock.