By J.P. Morgan Securities ($15.58, April 6, 2006)
WE ARE CONCERNED with the company's commodity-pricing exposure and risk to estimates and we are reiterating our Underweight rating on Micron. However, if DRAM pricing improves, we could become more optimistic on Micron stock.
After the close Monday, Micron is scheduled to report results for its fiscal second quarter and we believe the company should report revenue and earnings per share in line with our estimates for $1.36 billion (flat quarter-over-quarter) and 3 cents per share, respectively, and roughly in line with consensus estimates for $1.34 billion and 6 cents per share."
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