Meanwhile, analysts at Baird reiterated an Underperform rating for the stock, citing continued deterioration in both DRAM and NAND pricing in the face of a worsening downturn. Based in Boise, Idaho, Micron is the second-largest supplier of memory chips globally, offering chips that include DRAM, NAND flash and NOR flash. READ: Micron's DRAM and NAND contract pricing decline in November, says Baird analyst Micron's memory chips are used to store information, in comparison with microprocessor chips made by companies like Intel, which provide computing power. "Reiterating Underperform rating as DRAM downcycle has just started, while more downside exists in NAND given contract pricing's significant premium versus spot and our expectation spot will hit cost in C2Q19," wrote Baird analysts Tristan Gerra and Maggie Sims in a note to clients.