• Citi calls Micron Technology’s (NASDAQ:MU) recent weakness a buying opportunity.
• Analyst Chris Danely says global DRAM supply model shows demand exceeding supply by 2% this year and 5% next year.
• NAND has experienced a large increase in capital expenditures on the year, which worries Citi, but only makes up about a quarter of Micron’s profits.
•Citi reiterates Buy rating with a $45 price target.
•Source: Bloomberg
•Micron shares are up 2.17%.
•Now read: Value In An Expensive Market: Micron's Cyclical Mispricing »
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