Challenging environment for Micron persists, says Argus

Argus analyst Jim Kelleher keeps a Hold rating on Micron while noting that the company’s challenging environment is persisting following its Q3 results and guidance. The outlook for another earnings loss in Q4 is reflecting the ongoing demand weakness in consumer and business markets, a weak pricing environment, and new complications in China, the analyst tells investors in a research note. Micron has now become an “unfortunate pawn” in the technology war between U.S. and China, the firm adds.