|Bid||41.46 x 500|
|Ask||41.52 x 500|
|Day's Range||41.44 - 42.17|
|52 Week Range||16.45 - 42.17|
|PE Ratio (TTM)||18.23|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
U.S. stock futures are trading broadly higher this morning, as Wall Street gained confidence in the potential for tax reform. Senate Republicans narrowly passed a budget blueprint for the next fiscal year, which Wall Street believes will pave the way for the Donald Trump tax reform package. On the CBOE, the single-session equity put/call volume ratio slipped to 0.70, while the 10-day moving average held at a two-month high of 0.67.
Long positions in the tech-heavy Nasdaq 100 represent the most crowded trade in the U.S. markets, per a report from BofA Merrill Lynch.
UBS analyst Stephen Chin reiterated his Buy rating, but raised his price target on the chip maker from $39.50 a share to $53 a share. In short, Chin no longer expects either DRAM prices or Micron’s earnings to fall in 2018, though he does forecast a correction in 2019. Now at $41.39 a share, Micron edged 0.6% lower in recent market action.
Since bottoming at $9.31 just last year, Micron Technology, Inc. (NASDAQ:MU) has climbed, nay skyrocketed, 340% to its current perch of $41. What attracted me to Micron for today’s highlight, aside from my desire to fawn over such a beautiful uptrending stock, was its high-quality price pattern forged in recent days. Unlike the lion’s share of the market which is scheduled to report earnings over the next few weeks, MU has already stepped up to the plate (Sept. 26), knocked the cover off the ball and resumed its northward march.
In edge computing, basic analysis happens at the device level. This requires the device to be equipped with memory, processor, and connectivity chips.
Chances are good that as long as the business is strong, MU stock will continue its climb higher. Micron reported strong revenue, helped by its NAND and DRAM business. Investors need only look at the gross margin figure to understand a super cycle in computer chips is underway.
Micron’s SBU (Storage Business Unit) revenues fell 1.5% sequentially to $1.3 billion in fiscal 4Q17, well below the forecast of ~$1.5 billion.
Micron Technology Inc. said Wednesday it is planning to retire $2.25 billion of debt. The chip maker said it will redeem all $1.25 billion of its outstanding 7.5% notes due 2023, as well as $1 billion ...
Micron’s CEO, Sanjay Mehrotra, stated that Micron achieved the first qualification of its 1X LPDRAM (low-power DRAM) at a major mobile OEM in fiscal 4Q17.
Big revenue growth is followed by big revenue declines which is followed by big revenue growth again. Huge profit margins are followed by negative profit margins which are followed by huge profit margins again. MU stock highs are followed by MU stock lows which are followed by MU stock highs again.
It doesn’t take an experienced technical analyst to see that Advanced Micro Devices, Inc. (NASDAQ:AMD) stock is running into resistance. Twice this year, AMD stock has made a run past $15 only to hit a wall. AMD stock has earned every bit of its 600%+ run from early 2016 lows.
Last week, Apple (AAPL) and Steven Spielberg TV agreed to produce original shows, NVIDIA (NVDA) announced a supercomputer for self-driving cars and analysts projected strong user growth at Snap.
The good times for Micron Technology, Inc. (NASDAQ:MU) are going to end at some point. It might not seem like that right now. MU stock has quadrupled in 18 months. Analyst after analyst is raising his or her MU stock price target.
Micron’s Mobile Business Unit revenues rose 4% sequentially and 76% year-over-year to a record $1.2 billion in fiscal 4Q17, in line with expectations of $1.18 billion in revenues.
When semiconductor giant Micron Technology (MU) announced last week plans for a $1 billion equity offering, the shares sank almost 5% by Friday’s closing bell, despite assurances by the bulls on the Street that the stock sale creates value. Today, Micron’s share price is regaining some of that lost ground, with the chip maker up 2.8% to $41.54 on the heels of a note by Instinet’s Romit Shah in which he quite literally tells investors not the sell the stock. In fact, Shah raised his price target on Micron to $50, which suggests 20% upside for the stock over the next 12 months.