Buy Micron on improving profits and China: Baird

Investors should buy Micron Technology on a better profit outlook and increasing demand from China, according to Baird.

"Near term, PC units are rebounding above expectation (off a dismal first quarter), while the China smartphone market is also rebounding," Baird's Tristan Gerra wrote in a note to clients Tuesday.

"We expect Micron's gross margin to stabilize then rebound somewhat this second half."