Deutsche Bank continues to see the dynamic decline in prices for DRAM and NAND chips as the biggest variable in Micron Technology’s (Nasdaq:MU) 2023 results. Deutsche Bank now expects challenges in the company’s fiscal second and third quarters, saying inventory adjustments for enterprise and cloud customers are well underway, while the latest industry survey shows that selling price erosion “remains severe.” In addition, the analyst told investors in a research note that unit sales data from peers suggest that Micron’s underlying assumption for a mid-term demand recovery in 2023 “may be overly optimistic.” Deutsche Bank sees Micron Technology’s current share price level as risk-reward balanced and maintains a “hold” rating with a target price of $55.