.August 26, 2024 6:15 PM

Micron Technology (NASDAQ:MU) saw a 3% stock decline after Needham & Company analysts lowered their price target to $140, expressing concerns about near-term performance and potential risks to November estimates. Micron adjusted its forecast for fiscal Q1 2025, expecting flat bit shipments for DRAM and NAND. This shift reflects a move away from aggressive pricing tactics due to softened demand. Despite optimism for fiscal 2025, challenges in sectors like PC and smartphone remain. Micron’s strategic shift may create short-term headwinds, according to Needham’s revised guidance.