Micron quarter ‘better than feared,’ says Mizuho

Mizuho analyst Vijay Rakesh keeps a Buy rating on Micron Technology with a $72 price target following last night’s results. The quarter was “better than feared,” with gross margins coming in ahead of consensus and no further inventory write-downs, the analyst tells investors in a research note. The firm sees a “challenging but improving” outlook for Micron with the February quarter “potentially the margin/data center trough.”