Argus cuts Micron to Hold, sees potential operating losses over coming quarters

Argus analyst Jim Kelleher downgraded Micron to Hold from Buy. The analyst believes that the company is facing a challenging environment with the prospects of deep operating losses over the next few quarters. While Micron shares are "deeply discounted", he can no longer recommend the stock even for investors who are aware of the risks investing in memory technology and the big stock swings due to volatile pricing, Kelleher tells investors in a research note.