Ac t i o n | Micron Technology Inc (MU.O) Adjusting Target Price on Spot Pricing Weakness CITI'S TAKE We lower our Micron target price to reflect the recent pullback in DRAM spot prices. Mainstream DDR5 16GB DRAM product prices are down ~6% since Micron reported. That said, Micron and its memory peers have begun negotiations with the hyperscalers on 3-5 year strategic or long-term agreements to lock in base volumes, pre-payments, and adjustments to quarterly pricing based on market conditions, which should ...