09-21-2017, 01:31 PM
Wall Street rarely likes to talk about mistakes, but Goldman Sachs admitted it underestimated the strength of the memory chip market when it downgraded Micron (MU) shares in May. The firm reversed course and raised its rating for chipmaker's shares on Tuesday to buy from neutral, predicting the company will generate earnings above Street expectations in fiscal 2018. Micron's stock is up 56.4 percent year to date through Tuesday compared with the S&P 500's 11.5 percent gain.
Goldman: We messed up on this red-hot chip stock, time to buy it now