|Bid||51.45 x 800|
|Ask||51.70 x 4000|
|Day's Range||51.04 - 52.41|
|52 Week Range||28.79 - 53.25|
|Beta (3Y Monthly)||1.63|
|PE Ratio (TTM)||16.34|
|Earnings Date||Nov 13, 2019 - Nov 18, 2019|
|Forward Dividend & Yield||0.84 (1.63%)|
|1y Target Est||53.68|
The Zacks Analyst Blog Highlights: Southern Company, Applied Materials, Vertex Pharmaceuticals, NVIDIA and Edwards Lifesciences
Among top semiconductor stocks, AMAT stock is holding near highs as it tries to break free from a cup-shaped base with a 52.52 buy point.
Investors were willing to buy in for a second day in a row, encouraged the economy may get some help after all. Though it peeled back from its intraday high and volume was soft, the S&P 500 still ended Thursday's action up 0.64%.Source: Shutterstock Netflix (NASDAQ:NFLX) led the charge, gaining nearly 5% after Goldman Sachs dished out some kind words about the company. Despite its price-target cut, the investment bank still likes the stock, suggesting it only posed a "modest risk" relative to expectations. Freeport-McMoRan (NYSE:FCX) rallied roughly as much in response to an upgrade from UBS. The bank is a fan of the fact that the mining outfit is selling off some of its weaker assets, and further predicts copper prices will rise from here. * Boston Beer Company Stock Is a Credible Threat to Big Beer Holding the market back was PG&E (NYSE:PCG). The beleaguered utility name, driven to bankruptcy due to its role in California's devastating wildfires, plunged 29% when a judge ruled that key owners of the company's bonds would be allowed to submit a bankruptcy proposal of their own that could work against equity owners.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNone of those names are as compelling as stock charts of AbbVie (NYSE:ABBV), Applied Materials (NASDAQ:AMAT) and Chubb (NYSE:CB) are today. Here's why they earned a spot on watchlists. Applied Materials (AMAT)It has been anything but a straight-line move, but Applied Materials shares have made reliable progress since December's bottom. The ebbs and flows have left behind a well-defined set of rising support and resistance levels, plotted as light blue dashed lines on both stock charts.Assuming the pattern is still repeating itself, there's more upside ahead following August's rebound. Last week and this week gave us more evidence that AbbVie is en route to the upper boundary of its trading range. On the other hand, a couple of new concerns have taken shape. * Click to EnlargeChief among the concerns is the possibility that horizontal resistance has taken shape around $52.40, where the stock topped out in July and then again in September. * The other bearish red flag here is the lack of volume behind the current advance, and the fact that the weekly chart's momentum is waning. That is, the once-rising MACD lines are flattening out. * The good news is, the purple 50-day moving average line served as technical support last week and this week, upping the odds of a breakout beyond the ceiling at $52.40. Chubb (CB)The bears have tried to knock Chubb off of its bullish course several times since December's low. Each time the bulls stepped up to the plate, rekindling the rally. The end result is the establishment of a rising support line marked in yellow on both stock charts.That floor is being tested now thanks to this week's selloff. But, this time is notably different than the prior instances. This time, CB stock is ripe for a lot of profit-taking, and the bulls are on their heels. One more bad day could start a selling avalanche. * Click to EnlargeOn the weekly chart the vulnerability is evident in two ways. One of them is the fact that shares reached a full RSI-overbought condition in August. The other is this week's MACD crossunder. * Those aren't the only red flags on the weekly chart. While it took a day-by-day effort to make it happen, the sheer size and scope of the setback this week translates into the biggest weekly selloff since October of last year. That sweeping change of heart (for no discernible reason) is telling in and of itself. * Underscoring this week's big losses are a couple of days of high volume selling. The would-be sellers have largely tipped their hand. They're worried. AbbVie (ABBV)After an incredible 2017, AbbVie investors have experienced little more than misery. Shares peaked in early 2018, and the downtrend in the meantime was renewed just around each time it looked like it would finally come to a close.The rebound effort that's taken shape since August may end the same way. But, the bottom leading into that rebound was different than any of the previous ones. It may have cut deep enough to act as a capitulation. We need one more good 'umph' to know for sure, as that would finally get a pent-up rebound underway. * Click to EnlargeThe make-or-break line now is the line that connects all the key peaks since May of last year, plotted as a red dashed line on both stock charts. That resistance is being tested right now. * The selling may have hit a climax and set the stage for a prolonged reversal in August, as the weekly chart finally saw its RSI indicator line finally move to the sub-20, oversold level then. * Underscoring the bullish case is the recent action at and around the gray 100-day moving average line. ABBV stock failed to hurdle that line on three attempts earlier this year, but found support there at the beginning of this month (highlighted).As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post 3 Big Stock Charts for Friday: AbbVie, Chubb and Applied Materials appeared first on InvestorPlace.
Industry and academic leaders from US, Australia, Canada, UK to share research, discuss workforce development and build toward a global quantum alliance CHICAGO , Oct. 10, 2019 /PRNewswire/ -- Top experts ...
Futures swung in wild fashion amid shifting China trade news. Microsoft and Nvidia flash bullish signs.
Hedge funds run by legendary names like George Soros and David Tepper make billions of dollars a year for themselves and their super-rich accredited investors (you’ve got to have a minimum of $1 million liquid to invest in a hedge fund) by spending enormous resources on analyzing and uncovering data about small-cap stocks that the […]
(Bloomberg) -- Micron Technology Inc. shares tumbled on Friday after the chipmaker gave a forecast for both earnings and gross margins that was below expectations. The company’s chief executive officer also warned about the impact that global trade tensions were having on its business.Despite the cautious commentary, many analysts suggested that the worst may be over for the company, seeing signs of a trough in the market for memory chips. As Credit Suisse wrote, this was “a messier bottom, but still a bottom.” Barclays said that while the quarter’s results didn’t represent “the perfect start to the recovery,” they did indicate that the memory market “does seem to be heading to a better place.”Shares fell as much as 11.4% in their biggest drop since January 2016, and are on pace to see their largest one-day percentage decline since June 2015. The loss comes after Micron surged nearly 50% between a June low and the close of trading on Thursday. Rosenblatt Securities credited the drop to profit taking after the recent rally, and added that “investors should be opportunistic” in buying on weakness.The Philadelphia Semiconductor Index dropped as much as 2.9%, participating in a broad market decline. Among other names, Applied Materials fell 5.6% while Lam Research was down 6.1%. Western Digital Corp. lost 2.4%.Here’s what analysts are saying about Micron’s results:Citi, Christopher DanelyThe outlook was “well below what we believe were sky-high expectations.”The market for DRAM chips “is closer to the bottom and Micron is demonstrating higher trough earnings.”Raises price target to $35 from $30, which matched the Street-low view. Reiterates sell rating, citing the stock’s recent advance.Credit Suisse, John PitzerThis was “a messier bottom, but still a bottom.”While the results were “disappointing” in the near term, the firm has increased confidence that Micron is “in a profitable cycle bottom for the first time ever” and that inventory levels at customers “have returned to normal levels.”Outperform rating, price target a Street-high $90.Morgan Stanley, Joseph MooreThe inventory increases “seem problematic” and suggest that “things are going to get tougher from here.”“Not overly alarmed” by the gross-margin outlook; “the really daunting data point is that the company built inventory dollars” in a meaningful way on a sequential basis, even in the seasonally strongest quarter of the year.Equal-weight rating, $48 price target.Barclays, Blayne CurtisDespite better-than-expected revenue, the focus will be on the gross-margin outlook, which was “disappointing.”“Despite all the increasing enthusiasm on pricing, it’s not flowing to the bottom line.”This “wasn’t the perfect start to the recovery,” but “the memory market does seem to be heading to a better place and we would be interested if the stock pulls back.”Overweight rating, $50 price target.KeyBanc Capital Markets, Weston TwiggWhile Micron is seeing “improving demand,” memory pricing “remains depressed and [gross margins] may remain low until demand trends accelerate.”Affirms overweight rating, citing the long-term potential of the memory market and the company’s competitive position. Price target raised by $1 to $59.Rosenblatt Securities, Hans MosesmannThe results “indicate we are starting a recovery phase in the memory semiconductor cycle.”Says the negative reaction to the quarter is “profit taking,” and adds that “it is clear to us that the cycle has turned, Micron is a stronger company in virtually all aspects of the business, and investors should be opportunistic” in buying on weakness.Buy rating, price target raised to $80 from $60.What Bloomberg Intelligence Says:Despite “improving NAND and DRAM fundamentals,” steep price declines and other factors “may roil margins” in the first half of next year. “The magnitude and length of the supply-demand mismatch may determine how quickly balance can return to drive sales growth in 2020.”\- Analyst Anand Srinivasan\- Click here for the report(Updates stock in third paragraph)To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven Fromm, Scott SchnipperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Stock futures: Micron earnings beat views, but mixed guidance doesn't bode well for an industry recovery. Micron fell, along with Western Digital, Applied Materials, ASML and Lam Research.
Today we'll take a closer look at Applied Materials, Inc. (NASDAQ:AMAT) from a dividend investor's perspective. Owning...
Shares of Micron (NASDAQ:MU) have been on a cautious rise lately as investors and analysts worry less and less about the DRAM and NAND market. Slowly but surely, markets are starting to trust the idea that the semiconductor market has bottomed out. That's great for chipmakers and memory companies -- MU stock included.Source: Charles Knowles / Shutterstock.com Analysts have been warming up to the name too. The latest is JPMorgan, who maintained their overweight rating and bumped their price target from $50 to $65. With shares ending last week near $49, the price target implies almost $16 in upside, or more than 30%. Bulls on BoardHarlan Sur of JPMorgan says that NAND pricing is ahead of their expectations, while DRAM is relatively in line with their expectations. Further, he expects next quarter to mark the trough in gross margins, while an "inflection in [the] cloud data center" should help drive revenue. Strong demand for gaming, PCs and smartphones should also help.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 5 Red Hot Housing Stocks Sprinting to Decade Highs JPMorgan analysts aren't the only the ones bullish on Micron, though.Last week, Micron also caught a price target boost from $55 to $65 at Cascend Securities. The analysts maintain a buy rating and believe MU has "good value" after evaluating the DRAM market.Among the bullish camp, many are forecasting and making similar observations with their channel checks. That is, many expect margins to bottom in the next quarter or two and for demand to stabilize and improve in Micron's end markets.Now, can it get to $65? Trading MU StockBack in April, we were looking for a breakout over the $44 to $45 area. MU stock had all the hallmarks of an ascending triangle, a bullish technical pattern. Rising uptrend support (blue line) was squeezing the stock into a static level of resistance (purple line). In this case, that resistance came into play between $44 to $45.If MU stock price closed above this mark, it could have potentially continued higher as it broke out. Instead, the charts unwound and Micron stock took a tumble. Shares finally put in a double bottom down near $32.For now, shares are holding up above $49. This is where MU topped out after it finally pushed through $45 resistance. After another brief fall below $45 and another breakout, shares ran to $51.39, the September higher. I would love to see MU consolidate above $49, with the 20-day moving average trending higher.However, investors won't have long to wait for some action. Micron stock reports earnings on Thursday. While it's not guaranteed to be volatile, most of its post-earnings moves pack quite a punch.On the upside, look to see if MU stock can close above the September highs at $51.39. That could send it on its next breakout higher, putting a $65 price target that much closer. If $49 fails as support, as does the 20-day moving average, it's vital that $44 to $45 -- prior resistance -- acts as support.If it does, or if the 50-day supports MU stock, it may be a dip-buying opportunity. Bottom Line on Micron StockThe trouble with MU stock? Supply and demand -- and I'm not talking about the actual stock. I'm talking about memory.If demand dries up and/or supply is too high in the DRAM and NAND markets, companies like Micron suffer. Others come under pressure too, like Lam Research (NASDAQ:LRCX), Western Digital (NASDAQ:WDC), Applied Materials (NASDAQ:AMAT).For this quarter, analysts expect Micron's revenue to decline almost 46% year-over-year to $4.57 billion. Further, they expect an 84.2% decline in earnings to 48 cents per share.That's vastly below the fiscal year rates, with estimates calling for revenue to decline 23.9% this year and for earnings to decline almost 48% year-over-year. Should it turn out that we're not near a trough in Micron's business, then there is surely more downside coming.As it stands, in fiscal 2020, analysts expect the slowdown to ease. Estimates call for revenue to decline "just" 13.5%. However, they expect an even worse earnings contraction, calling for profits to decline more than 55%.18 times next year's earnings estimate of $2.69 per share isn't cheap. But if MU can deliver on the upside and management gives a promising outlook, analysts' estimates -- and MU stock price -- may move higher. * 7 Stocks to Buy Under $10 So what's the bottom line? See if $45/the 50-day moving average holds on a pullback. On the upside, look for a close over $51.39.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.ed securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Under $10 * 30 Marijuana Stocks to Buy as the Future Turns Green * 7 Consumer Stocks Ready to Rally Hard The post Is Micron Stock Set to Jump 30% to $65 Per Share on Earnings?Â appeared first on InvestorPlace.
There is an old and very important saying for ETF investors: know what you're buying. With crude oil (WTI and Brent) up about 13% on Monday, one might expect huge gains in oil stocks. The largest Energy ETF (XLE) was up only 3.4%. On the other hand, oil-sensitive ETF's like XOP and OIH were up 9% and 11%, respectively. Why?
Applied Materials (AMAT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
A Wall Street analyst on Friday raised his price targets on semiconductor equipment makers Applied Materials and Lam Research, citing increased capital spending by key customer Taiwan Semi.
When you buy a stock there is always a possibility that it could drop 100%. But on a lighter note, a good company can...