Summit Research published a bullish report on Micron (NASDAQ: MU), which it maintained at Buy and a $46 price target.
Analyst Srini Sundararajan uses the subtitle: “Can’t Make Stuff Fast Enough” and noted that Micron continues to boost its capital expenditure spending, boosting its 2015 estimate range of $3.6 billion to $4 billion compared to $2.8 billion to $3.2 billion in 2014. Fifty percent is expected to be spent on DRAM, 25 percent on NAND and 25 percent on development of new technologies.
Regarding NAND technology, the report stated,”Micron will be ready for PRODUCTION of 3D NAND in 2015. CEO Mark Durcan in response to a question indicated that MU’s 3D NAND is every bit (or Gigabit!) as good as Samsung’s (pun intended).”
Despite the bullish report, shares of Micron were last down 1.1 percent to $30.74.
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