Micron seeing strong, stable DRAM pricing Citi says, going into Q2 earnings
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Micron Technology (NASDAQ:MU) is set to report second-quarter results after the close of trading on March 29 and the semiconductor manufacturer is seeing strong and stable dynamic random access memory pricing, which should bode well for the company, Citi said.
Analyst Christopher Danely, who reiterated his buy rating and $120 price target on Micron, said that DRAM pricing is likely to rise in the second-half of the year, due to low supply and a recovery in demand.
Danely noted that he expects Micron to earn $1.87 per share and $7.5 billion in revenue, as "DRAM pricing declined mid-single digits [quarter-over-quarter], which was roughly in line with expectations," Danely wrote in a note to clients.
He added that guidance should be "in line/above consensus due to NAND strength/stable DRAM."
A consensus of Wall Street analysts expects Micron (MU) to earn $1.98 per share on $7.53 billion in revenue for the second quarter.
Danely also noted that though there has been weaker demand in PC and server markets for DRAM, pricing for it is likely to be "roughly stable" in the second-quarter and rise in the second half of the year. 
Earlier this week, Micron's (MU) Chief Executive Sanjay Mehrotra testified in front of Congress to ask for more government support for the domestic semiconductor industry, though Bank of America said it would not be a "silver bullet."