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    Chris Danely

    Managing Director and Senior Semiconductor Analyst at Citi

    Chris Danely is a Managing Director and Senior Semiconductor Analyst at Citi, specializing in equity research within the technology sector with a focus on semiconductor companies such as Intel, Micron, and AMD. He covers 27 stocks and has maintained a track record with a documented success rate of approximately 53-61% and average returns per recommendation ranging from 3.7% to 7.6%, with a notably profitable buy rating on ON Semiconductor yielding over 200% return. Danely previously held the role of Managing Director at JP Morgan before joining Citi, where he is recognized for his expertise in the volatile semiconductor space. As a seasoned analyst and senior leader, Danely holds relevant securities licenses and is listed in industry directories for analyst coverage.

    Chris Danely's questions to MICRON TECHNOLOGY (MU) leadership

    Chris Danely's questions to MICRON TECHNOLOGY (MU) leadership • Q2 2025

    Question

    Questioned why current gross margins are significantly lower than in a previous cycle with similar revenue levels, and asked for clarification on the commentary about improving product mix while also having increased consumer exposure.

    Answer

    The company attributed the lower margins primarily to the challenging NAND industry environment, which has weighed on profitability, while DRAM margins remain healthy. The "consumer exposure" refers to a strong rebound in demand from consumer-facing customers after an inventory correction, which, combined with HBM, is tightening supply and enabling price increases. The long-term strategy remains focused on shifting the mix to high-value solutions.

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