Investors should buy Micron Technology shares because the company's earnings this year will come in above Wall Street's expectations, according to Credit Suisse, which reaffirmed its outperform rating on the memory chipmaker.
"We continue to see fundamentals for MU improving from here … we expect the pricing environment to remain healthy through 2H17 and drive margin improvement for MU," analyst John Pitzer wrote in a note to clients Tuesday. "Memory is a different industry now – higher concentration than ever … more diversified demand, and slowing supply – we argue margins are more resilient now than in the past."
The company will report fiscal second-quarter earnings on Thursday, Mar. 23.