The move comes as investors weigh Micron’s longer-term growth prospects against expectations for slowing memory pricing momentum and rising competition from Chinese manufacturers.
On Aug. 7, Citigroup analyst Atif Malik maintained a Buy rating on Micron but lowered his price forecast to $1,150 from $1,400. The firm expects memory pricing momentum to slow over the next year, even as DRAM and NAND prices continue to rise from current levels.
Citi Trims Micron Forecast
Citi reduced its valuation multiple and lowered its fiscal 2027 and 2028 earnings estimates.
The firm expects DRAM and NAND prices to continue climbing but sees the pace of gains slowing over the next four quarters. Citi expects memory prices to peak in the second quarter of next year.
