|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||41.40 - 42.19|
|52 Week Range||16.45 - 42.19|
|PE Ratio (TTM)||18.25|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Keith Bliss of Cuttone and Company joins Yahoo Finance's Alexis Christoforous from the floor of the New York Stock Exchange to discuss chipmaker earnings on deck, with AMD releasing first.
Today’s best stock charts will review the charts for GoPro Inc. (NASDAQ:GPRO), Hasbro, Inc. (NASDAQ:HAS) and Micron Technology, Inc. (NASDAQ:MU) — all excellent samples of just how nonuniform stocks are moving right now.
At the Forbes CIO Next summit in New York on April 16, three new winners of the Forbes CIO Innovation Award were announced: Lynden Tennison of Union Pacific, James Swanson of Monsanto, and Suren Gupta of Allstate.
U.S. stock futures are trending higher this morning, with Wall Street once again looking toward fresh all-time highs. On the options front, volume was extremely brisk amid October options expiration on Friday. Taking a closer look at Friday’s options activity, Micron Technology, Inc. (NASDAQ:MU) received a considerable vote of confidence from analysts at UBS, driving call volume higher on the day.
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.