Micron's price target set lower by Citi after recent pullback in DRAM spot prices

Mainstream DDR5 16GB DRAM prices have declined 6% since Micron's Q2 results on March 18. Citi cut its Micron price target to $425 from $510 (down $85, ~16.7%), signaling downside risk for Micron and memory peers and potential near-term pressure on earnings and the stock.

Analysis

Mainstream DDR5 16GB DRAM prices have declined 6% since Micron's Q2 results on March 18. Citi cut its Micron price target to $425 from $510 (down $85, ~16.7%), signaling downside risk for Micron and memory peers and potential near-term pressure on earnings and the stock.