Micron: Pendulum Has Swung to Overly Optimistic, Says Morgan Stanley

A 40% jump in shares of Micron Technology over the course of 3 weeks means sentiment has swung to being too optimistic, writes Morgan Stanley's Joseph Moore as he cuts the stock to the equivalent of a Hold. He sees risk of big price drops in NAND flash later this year, and possibly for DRAM in 2019.

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