Implications of Taiwan earthquake may scrap some Micron inventory, says Citi

Citi analyst Christopher Danely keeps a Buy rating and $150 price target on Micron. The company has 60% of its DRAM manufacturing in Taiwan, but the magnitude 7.4 earthquake reported there this week could be a positive for DRAM since there likely will be some inventory scrappage, leading to less supply, the analyst tells investors in a research note. A shutdown could result in lower revenue, but this would be “only temporarily”, the firm added.