A booth of Micron Technology at an industrial fair in Frankfurt, Germany.
Kai Pfaffenbach | Reuters
Here are the biggest calls on Wall Street on Wednesday:
Longbow upgraded Micron to ‘buy’ from ‘neutral’
Longbow said it sees improving fundamentals in the memory and flash storage chip market.
“Our checks highlight upside in shipments and improving DRAM and NAND pricing fundamentals associated with upside at select hyperscales and risk of tightening supply. As a result, upstream inventory drawdown is occurring faster than previously forecast, which should drive a bottoming in DRAM fundamentals by year-end to pair with an in-process recovery in NAND fundamentals.”