According to the Zhitong Finance and Economics APP, Stifel has published a research report, downgrading its expectations for storage chip manufacturer Micron Technology (MU.US) and pointing out signs that the recovery of the storage chip market is slowing down.

Analyst Brian Chin wrote in an investor report: "We believe that there is still demand for high-bandwidth memory, and the notion of oversupply next year has not been confirmed. However, it is obvious that the sales of consumer electronics (more importantly, the overall product mix) are mediocre. We believe this may cause a market stagnation in the coming quarters, as memory suppliers are unwilling to accept higher shipments at lower prices."

Chin maintains his "buy" rating, but has reduced the target price from $165 to $135 due to the downgrade of expectations for the first and second quarters.

Currently, analysts generally expect Micron Technology's fourth quarter EPS to be $1.11, with revenue of $7.64 billion. The company will announce its fourth quarter performance in the post-market trading on September 25th.