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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Micron (NYSE: MU ) are starting off the new year with a bang, up as much as 11% on the heels of an analyst upgrade.
So what: Barclays bumped up its rating on the shares to overweight from equalweight, while also adding another dollar to its price target, from $8 to $9. The change is notable because it was accompanied by downgrades of other tech companies.
Now what: Among the companies downgraded were familiar names like Intel and Freescale Semiconductor. Stronger PC sales and higher DRAM memory pricing are expected to help Micron throughout the year. The semiconductor sector overall could be in for a couple of rocky months as companies adjust for inventory corrections, but the second half of the year looks promising.
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