Susquehanna Financial Group is worried memory chip prices will drop far more than expected this year.详情见内。 (谈股论金)  646次阅读

作者: 雅歌 , 发表于: 2019-02-20 (2094天前) @ 唐歌

Susquehanna Financial Group is worried memory chip prices will drop far more than expected this year. The firm's analyst Mehdi Hosseini is warning investors the price drops will dramatically hurt the profitability of chip companies, including Micron Technology (ticker: MU) and Western Digital (WDC). "We expect significant deterioration in memory margin profiles by a much greater magnitude than what is dialed into consensus," he wrote on Tuesday. "Our field checks last week suggest worse than expected ASP [average selling price] trends for both DRAM and NAND." DRAM refers to dynamic random-access memory, used in desktop computers and servers. NAND is flash memory, which is used in smartphones and solid-state hard drives. Hosseini noted both DRAM and NAND chip prices are down 20% to 25% in the first quarter versus estimates of falling 15%.

The analyst says pricing for DRAM chips is on track to decline by as much as 40% and predicts NAND prices will fall by as much as 50% this year, which will lead to significant profit margin deterioration. Micron and Western Digital didn't immediately respond to requests for comment. The analyst has Neutral ratings on both stocks. Micron shares were down 0.7% to $41.68, while Western Digital stock was up 2.7% to $48.92 on Tuesday. Shares of both chip stocks have risen more than 25% year-to-date.