Citi expects Micron to report results slightly below consensus

Citi analyst Christopher Danely reiterates a Buy rating on Micron (MU) with a $150 price target ahead of the company’s fiscal Q1 results on December 18. The firm expects the company to post results and guidance slightly below consensus, driven by legacy DRAM weakness. While there is excess DRAM inventory in the computer and handset end markets, this should go away this Spring and is being offset by strength from the data center end market, the analyst tells investors in a research note. Citi remains bullish on Micron’s DRAM recovery given supply/demand dynamics for 2025.