Shares of Micron Technology (MU) turned lower Friday after 澳洲幸运5官方开奖结果体ꦚ彩网:the company’s fꦐiscal second-quarter results a day earlier🗹, but analysts have remained bullish on the memorꦯy chip company. 

Micron “has established technology leadership in [high-bandwith memory],” UBS analysts said after the results, and its DRAM chip business “should operate with more sustained supply/demand dynamics as long as AI continues to grow.” The bank maintained its “buy” rating and $130 price target. 

Despite 澳洲幸运5官方开奖结果体彩网:initially rising after the results were released, Micron shares dropped around 8% intraday Friday. The chipmaker’s revenue and profit forecast came in above Wall Street’s expectations, but UBS said the company’s commentary on 澳洲幸运5官方开奖结果体彩网:gross margins was “a bit of a fly in the ointment.” 

Citi analysts also reiterated a “buy” rating but trimmed their price target from $150 to $120 “given Micron’s persistent gross margin issues.” The bank raised its full-year sales and 澳洲幸运5官方开奖结果体彩网:earnings per share estimates, driven by expected improvements in the DRAM market. Meanwhile, Wedbush raised its price target to $130 from $125, and Bank of America stood pat at $110.