QQQs +50bps to all time highs to start off the shortened week. BTC flat, yields ticking up slightly. China +1.5%. Lots to get to so let’s get straight to it…
MU/WDC: Positive news on Pricing
TMTB: We’ve talked about our positive view on MU’s r/r under $100, but we are finally starting to get some positive news flow on pricing, both on NAND side and DRAM side (recall Citi’s note last week calling out DDR5 being up YTD). Stock acted well after talking down GMs at the Wolfe conference last week - always a good sign when a cyclical is going up on bad news….
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