Shares of Micron Technology Inc. MU, +1.11% are up 2.5% in Tuesday morning trading after Mizuho analyst Vijay Rakesh defended his buy rating on the stock, which is down from its March highs. "While there are concerns in the supply chain given Samsung's 005930, +1.03% DRAM capacity add, we believe 2H-2018 DRAM supply will be measured with stable to higher DRAM pricing," Rakesh wrote. "Given Samsung's challenges in OLED with lower capacity utilization and smartphone demand, we believe focus will be on maintaining DRAM-NAND profitability with stable to higher pricing." Rakesh said that he also recommends buying Western Digital Corp. WDC, +1.05% shares on weakness. Micron shares are up 74% over the past 12 months, while the PHLX Semiconductor Index SOX, +1.20% has gained 32% and the S&P 500 SPX, +1.05% is up 12%.