A Citi analyst on Monday opened a negative catalyst watch on shares of Micron Technology (MU) – Get Report, a day before the semiconductor company is scheduled to report fourth-quarter earnings.
Shares of the Boise, Idaho, company at last check were up 0.4% at $49.31.
Analyst Christopher Danely, who has a sell rating on the shares with a $35 price target, said he expected Micron to report sales below guidance of $6 billion but in line with his $5.5 billion estimate due to what he called a double dip in DRAM.
The analyst also expects the stock to trade lower on the report and would be more constructive on the stock in the mid $30s, according to The Fly.
Last week, TheStreet.com Founder Jim Cramer said on CNBC that “Micron’s core DRAM business could be saved by their disk drive business, but I don’t see the stock