MU Jun 2020 35.000 call

OPR - OPR Delayed Price. Currency in USD
17.75
0.00 (0.00%)
As of 11:27AM EDT. Market open.
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Previous Close17.75
Open18.00
Bid0.00
Ask0.00
Strike35.00
Expire Date2020-06-19
Day's Range17.75 - 16.50
Contract RangeN/A
Volume6
Open Interest1.83k
  • Benzinga

    Bulls And Bears Of The Week: Altria, Apple, Caterpillar, Ford, Oracle And More

    Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included the iPhone maker, a Big 3 automaker and a restructured industrial company. Bearish calls ...

  • Buy These 3 Semiconductor Stocks on Positive 2020 Catalysts
    TipRanks

    Buy These 3 Semiconductor Stocks on Positive 2020 Catalysts

    Despite concerns that problematic inventory levels as well as flaring trade tensions would weigh down the semiconductor industry, the sector has still been able to grow with the VanEck Semiconductor ETF up 40% year-to-date. Adding to the good news for investors, one of the best-performing analysts believes that several catalysts could drive even more gains for semiconductor stocks. “Our prevailing takeaway is that the multi-quarter inventory correction, which started in earnest in July 2018, is largely over and inventory levels have bottomed. Despite the near-term macroeconomic volatility, we believe there will be a number of catalysts in 2020 that will have a positive impact the semiconductor industry,” Needham’s Rajvindra Gill wrote in a note to clients on September 11. Bearing this in mind, we used the TipRanks Stock Comparison tool to take a closer look at how a few of the stocks in this space stack up against each other. Our comparison was based not only on yearly gain, but also analyst consensus and average analyst price target. Here’s what we found out. Micron Technology Inc. Despite widespread volatility throughout the semiconductor space, shares of memory chip provider Micron (MU\- Get Report) have climbed 59% year-to-date, the highest out of the stocks on the list. Based on the improved outlook for the sector, even more gains could be on the way.According to Gill, the primary catalyst expected to drive growth for MU is an improvement in the memory cycle. Recently, MU experienced issues related to weaker DRAM and NAND demand and pricing as a result of higher inventories. DRAM, dynamic random-access memory, is used in desktop computers and servers, while NAND is flash memory that’s typically found in smartphones and solid-state hard drives. It should be noted that Needham’s research suggests that while NAND and DRAM supply levels remain higher than normal, the memory cycle is improving. Additionally, while price declines are slowing down, the deceleration hasn’t bottomed out with a normal supply and demand balance mostly likely expected through the first half of 2020. That being said, investors can expect a turnaround in 2020 thanks to several demand catalysts such as normalized hyperscaler spending, specifically at Microsoft (MSFT) and Amazon Web Services (AMZN), with the most notable driver being 5G. 5G smartphones represent a major upgrade cycle in 2020. According to Gill, the amount of 5G smartphones could reach 120 million to 140 million units at the mid-point in 2020. With every original equipment manufacturer (OEM) looking to get in on the trend, 5G creates several growth opportunities for MU. While some investors have expressed concerns regarding MU’s dependence on Huawei, Gill believes MU has “de-risked” its exposure going into Q3. As a result of all of the above factors, the five-star analyst kept his Buy rating and $50 price target.All in all, the Street takes a cautiously optimistic stance on MU. With 14 Buy ratings vs 5 Holds and 2 Sells assigned in the last three months, MU is a ‘Moderate Buy’. It has an average price target of $51, suggesting 0.04% upside. The low upside potential makes sense given the fact that share prices have soared year-to-date.    Skyworks Solutions, Inc. Skyworks (SWKS\- Get Report) designs semiconductors for cellular infrastructure as well as for radio frequency applications. With shares already up 23% year-to-date, Gill has high hopes for SWKS thanks to 5G.Similar to MU, Skyworks is expected to get a significant boost in 2020 with the 5G smartphone rollout. The fact that the minimum requirement for every 5G phone is 6GB of DRAM bodes well for the company. However, Gill points out that 5G infrastructure could be an even bigger driver of growth.In order to make 5G a reality, mobile broad brand will need to be upgraded in order to enable higher data transmissions for portable devices. Networks also require very low latency as well as smart manufacturing. Telecommunication providers have ramped up efforts to get ready for 5G, with this especially apparent in China. In 2019, three major Chinese mobile operators increased their year-end base station deployments. Adding to the good news, 5G licenses were approved in June, earlier than previously expected. As a result, China bumped up its 5G base station deployments for 2020, with its overall target now at 500,000. “As operators are aggressively expanding the power supplies to meet requirements (5x increase in MOSFET usage in 5G radios and the expected 3-5x increase in the number of 5G base stations compared to those in 4G), SWKS stands to reap the benefits,” Gill noted. He adds that investors should take comfort in that fact that the company has also reduced its Huawei exposure. As a result, the Needham analyst maintained his Buy rating and $95 price target. He tells investors that SWKS could see a 16% gain in the next twelve months.The word on the Street is more mixed. 6 Buy ratings and 7 Holds received in the last three months add up to a ‘Moderate Buy’ analyst consensus. Its $87 average price target indicates 6% upside potential. Microchip Technology Inc. The last semiconductor stock on our list develops chips for many applications including displays, computing, wireless connectivity as well as several others. Despite being the target of recent negative media attention, Microchip (MCHP\- Get Report) could see its 32% year-to-date gain surge even more. Investors were not happy to learn on September 3 that the company maintained its lackluster guidance for second quarter fiscal 2020. Management stated that as a result of the U.S.-China trade war, it expects to see quarterly revenue fall between $1.323 billion and $1.375 billion. This was incredibly disappointing as it represents zero to 4% growth.That being said, Gill believes a turnaround could be on the way as shares are trading at a multi-year P/E discount based on its computer vision products and advanced driver-assistance systems (ADAS). The organic light-emitting diode (OLED) market could see a major investment cycle in the next two to three years. While OLED does cost about 5% to 10% more than LCD displays and takes slightly longer to manufacture, these costs are expected to narrow very soon.The flexibility of OLED displays makes the technology especially useful in touch IC applications. Based on this, Gill believes OLED will take over the industry which is good news for MCHP. “We think OLED will account for over 50% of the smartphone market. Our conversations point to rapid OLED adoption at the major OEMs and expanding OLED formats (flexible, rigid and foldable) across the high-end and mid-range portfolio,” he explained. As a result, Gill maintained his Buy rating and $100 price target on MCHP. He is confident that shares have the potential to gain 5% in the next twelve months. The rest of Wall Street mirrors the analyst’s sentiment. MCHP boasts a ‘Strong Buy’ analyst consensus as well as a $108 average price target, suggesting 14% upside potential, beating out both MU and SWKS in terms of each of these factors. Find Wall Street’s most loved stocks with the Top Analysts’ Stocks tool

  • Should Value Investors Buy Micron (MU) Stock?
    Zacks

    Should Value Investors Buy Micron (MU) Stock?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Adobe Systems (ADBE) to Report Q3 Earnings: What's in Store?
    Zacks

    Adobe Systems (ADBE) to Report Q3 Earnings: What's in Store?

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  • Dow Jones Futures: Trump Open To Interim China Trade Deal; Apple Tests Buy Point
    Investor's Business Daily

    Dow Jones Futures: Trump Open To Interim China Trade Deal; Apple Tests Buy Point

    Futures rose as the Dow and S&P; 500 near record highs. President Donald Trump said he'd consider an interim China trade deal. But Apple fell back to its buy point.

  • Why Does Micron Stock Have Analysts Falling in Love All Over Again?
    InvestorPlace

    Why Does Micron Stock Have Analysts Falling in Love All Over Again?

    Ask a lot of Wall Street analysts what to buy today, and many of them will say Micron Technology (NASDAQ:MU). On the surface the memory maker looks dirt cheap for a tech stock. The price-earnings ratio is below 6, and price to sales is just 2. Assuming the inventory recession of last year is over, results could improve sharply. Even if they don't, MU stock is still a bargain.Source: Charles Knowles / Shutterstock.com But there's a reason Micron sells at 6x earnings. Micron's history is one of booms and busts, and this bust may not be over. That's because the good times have brought out some big new suppliers.So, buy or sit?InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Buy ArgumentThe buy argument starts with the most recent results, delivered in June. Net income of $1.2 billion, or $1.05 per share on revenue of $4.79 billion was "better than feared." Chip prices are stabilizing and could start to rise by the end of the year.Micron next reports earnings September 26. The consensus estimate is for net income of 42 cents per share, or about $500 million, on revenue of $4.5 billion. There is also a "whisper number" of 49 cents per share. * 7 Stocks to Buy In a Flat Market Analysts are expecting an upside surprise. They have set a low bar they expect the company to clear handily. The stock is still "priced for disaster" as our Thomas Niel wrote recently. Whether this is the bottom or next month is the bottom is less relevant than the idea that you can see the bottom. The Hold ArgumentWhile analysts have been boosting their price targets on the stock, $52-$55 isn't far from the $50 and change the stock is due to open at this morning.That's why the sages at InvestorPlace are telling bulls to be careful. Be careful in the short run, writes Will Healy. It's an "ugly road" to the top, writes Luke Lango, who recommended the shares at their bottom of $35.The concern, as always, is China. It's not just the trade war, with its tit-for-tat taxes. It's also China's stated goal of becoming independent of American chip suppliers. This starts with Micron. The U.S. government formally charged two Chinese companies with stealing Micron's intellectual property last year. Micron CEO Sanjay Mehotra was reportedly in China recently, meeting with one of the companies that were charged.There's also Intel (NASDAQ:INTC). Intel and Micron ended their memory partnership last year. Intel has opened a new front in the competition with new packaging, tying memory more closely with processing, including graphics processing.Samsung remains the biggest memory producer, with twice Micron's market share. Another Korean company, SK Hynix is also a bigger supplier than Micron. Bottom Line on Micron StockMy own optimism for Micron stock is based in large part on Mehotra, who became CEO two years ago. This came after a long career building Sandisk, now part of Western Digital (NASDAQ:WDC). * 10 Stocks to Sell in Market-Cursed September This is not Mr. Mehotra's first rodeo. He's like a great football coach you got because his previous team was sold.Mehotra has been making Micron more international, increasing hiring in India. Micron has the cost structure to compete against anyone, even the Chinese.While investors are getting ahead of themselves in the near term, the longer term remains bright. There is a super-cycle for memory. It began with phones, PCs and even cloud centers. Chip memory can also go into the tiny spaces needed to automate everything from factory equipment to refrigerators to traffic lights.If you have a five-year time horizon for a tech investment, you can buy Micron now. I said that months ago. It's still not too late.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Battered Tech Stocks to Buy Now * 7 Strong-Buy Stocks Hedge Funds Are Buying Now * The 7 Best Penny Stocks to Buy The post Why Does Micron Stock Have Analysts Falling in Love All Over Again? appeared first on InvestorPlace.

  • GuruFocus.com

    Micron Technology Inc (MU) EVP, Technology Development Scott J Deboer Sold $1,000,000 of Shares

    EVP, Technology Development of Micron Technology Inc (30-Year Financial, Insider Trades) Scott J Deboer (insider trades) sold 20,000 shares of MU on 09/11/2019 at an average price of $50 a share. Continue reading...

  • Bloomberg

    U.S. Semiconductor Companies Urge Trump to Hurry Huawei Licenses

    (Bloomberg) -- The U.S. semiconductor industry urged President Donald Trump to make good on his promise to ease the ban on sales to China’s Huawei Technologies Co.“We encourage prompt action to issue approvals for sales that do not implicate national security concerns, particularly where there is foreign availability for competing products,” the Semiconductor Industry Association said in a letter dated Sept. 11 to Commerce Secretary Wilbur Ross, which was seen by Bloomberg News. Intel Corp., Qualcomm Inc. and Texas Instruments Inc. and are among members of the association.China’s largest technology company has found itself at the center of a trade conflict between Beijing and Washington that’s weighing on the global economy.After meeting with Chinese President Xi Jinping in late June, Trump said he would loosen restrictions on Huawei export licenses and that Beijing had agreed to buy more U.S. farming goods. But neither side has followed through on those pledges, and the U.S. has since increased tariffs on Chinese goods, sparking retaliation by China.In July, Trump met with chief executives from major technology companies including Micron Technology Inc. and Alphabet Inc.’s Google who asked for a timely decision on the resumption of sales to Huawei.Trade BlacklistAmerican businesses require a special license to supply goods to Huawei after the U.S. added the Chinese company to a trade blacklist in May over national-security concerns.Huawei is the third-largest buyer globally of U.S. semiconductors, the association said in the letter. Sales to Huawei of “non-sensitive” products ranging from mobile phones to smart-watches “do not implicate national security concerns,” the group said. The ban is making it more difficult for U.S. firms to compete against foreign rivals that don’t face the same restrictions, according to the letter.Delays in awarding the special licenses could weaken the U.S. semiconductor industry because it will lead to lower profits, forcing some companies to cut research and eroding their dominance in the global market, the association said.To contact the reporters on this story: Jenny Leonard in Washington at jleonard67@bloomberg.net;Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Sarah McGregor, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Micron (MU) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Micron (MU) Stock Sinks As Market Gains: What You Should Know

    In the latest trading session, Micron (MU) closed at $50.44, marking a -0.08% move from the previous day.

  • The Zacks Analyst Blog Highlights: Anixter, Diodes, Micron, Perion and Vipshop
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    The Zacks Analyst Blog Highlights: Anixter, Diodes, Micron, Perion and Vipshop

    The Zacks Analyst Blog Highlights: Anixter, Diodes, Micron, Perion and Vipshop

  • 2 Tech Stocks Surging on Analyst Upgrades
    TipRanks

    2 Tech Stocks Surging on Analyst Upgrades

    Markets are rising so far in September, after a rough August. The S&P 500 is up 2.7% this month, bringing the index’s year-to-date gains to almost 20%. And looking forward, two stocks are poised for particular outperformance. These are stocks that are buzzing following two notable analyst ratings. Analysts usually reiterate ratings – so upgrades speak volumes about a stock's potential. We found these stocks by filtering for the latest upgrades on the Daily Analyst Ratings, an up-to-date listing of the most recent stock reviews by analysts. Let’s look more closely, and see what the analysts had to say about these two recent upgrades. Micron Technology, Inc. (MU)The world’s fifth largest semiconductor company, with $31.8 billion in revenues last year, Micron (MU – Get Report) has proven more resilient than its peers, with less price volatility this past summer in the face of increased US-China trade tensions. MU shares have gained 12.6% so far this month, with 59% gains year-to-date.The strong stock performance drew notice from Longbow analyst Nikolay Todorov, who upgraded his stance on the stock from neutral to buy. In his comments, he wrote, “We are turning more positive on memory fundamentals as we now believe excess inventory will be depleted faster than expected, triggering an improvement in pricing and margin ahead of current expectations.”Going into greater detail, Todorov added, “Our checks highlight upside in shipments and improving DRAM and NAND pricing fundamentals associated with upside at select hyperscales and risk of tightening supply. As a result, upstream inventory drawdown is occurring faster than previously forecast, which should drive a bottoming in DRAM fundamentals by year-end to pair with an in-process recovery in NAND fundamentals.” Todorov’s price target of $66 suggests an impressive 30% upside for MU.Todorov is not the only bull on Micron. Weston Twigg, from KeyBanc, set raised his price target from $45 to $58, saying, “Barring a recession, we expect memory trends to improve through 2020.” Twigg’s new target implies a potential upside of 15%.The upbeat analyst reviews of MU shares, along with the general optimism about the company’s near- to mid-term prospects, pushed the stock price up in recent days, well above its average price target. As well as the upward trending share price, MU has a Moderate Buy rating from the analyst consensus, based on 14 buys, 5 holds, and 2 sells set in the last 90 days. Cisco Systems, Inc. (CSCO)We may live in the digital age, but our information networks live on hardware. And Cisco (CSCO – Get Report) is the leading provider of the networking hardware that makes up the physical connections of the internet.Cisco has done well as the hardware man for the tech world. Shares are up 14.5% year-to-date. While that is below the S&P average of 19%, the most recently quarterly report showed an EPS beat of 1.32%. Steady growth and earnings have made Cisco a favorite with investors, as has the company’s 2.96% dividend. The quarterly payment is a modest 35 cents per share, but Cisco has a policy making regular increases and the dividend has grown 13% in the last 5 years.The strong market position attracted attention from 5-star Evercore analyst Amit Daryanani. He initiated his coverage of this stock with a buy rating and a price target of $60, suggesting a robust upside potential of 20%. Daryanani believes that future hardware investment in the tech sector will focus on the upcoming 5G networks. He writes of Cisco: “Investors are underappreciating Cisco's shift towards a more predictable and free-cash-flow-focused model. The transition CSCO is undergoing merits investors focusing more on an FCF-based valuation vs. traditional price-to-earnings approach.“Cisco is well-positioned as an end-to-end solutions provider across the enterprise networking product spectrum; CSCO’s unique portfolio of assets allows the company to address emerging growth adjacencies (security, services, cloud-based solutions) while maintaining market leading positions in several core networking product categories.”Also bullish on Cisco is James Fish, of Piper Jaffray. Writing in mid-August, Fish said, “We believe that the stock warrants a higher valuation than the market is offering. We see good risk-reward on Cisco at current levels as long as the company's growth segments… continue to execute.” Fish’s $57 price target implies an upside of 12% for CSCO.Cisco is up 4% since Daryanani opened his coverage, and up 8% for September so far. The stock’s Moderate Buy consensus rating is based on 22 reviews, including 16 buys and 6 holds. The average price target of $56.47 suggests an upside of 11% from the current share price of $50.60.Visit our Top 25 Experts page today, and find out more about Wall Street’s best stock watchers.

  • Micron Stock Is Poised to Surge, but Be Careful in the Short Term
    InvestorPlace

    Micron Stock Is Poised to Surge, but Be Careful in the Short Term

    The long-awaited Micron (NASDAQ:MU) recovery appears to have finally arrived. Micron stock and profits took a beating last year because of a combination of the decline in crypto and an emerging trade war.Source: Charles Knowles / Shutterstock.com However, new technology has begun to drive what looks like a permanent demand increase in memory chips.Moreover, both management sentiment and analyst estimates have shown beginning signs of a recovery. MU stock has recovered as a result. With this uptick, the question becomes when to buy Micron stock, not whether to buy.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Micron Will Head HigherAll of us make bad decisions on stocks from time to time. Unfortunately, my wrong call caused me to miss the uptick in MU stock.Three days after saying that the trade war would keep MU "suppressed in the short term," the company released a report that blew my short-term investment thesis out of the water. * 10 Stocks to Sell in Market-Cursed September Management gave a presentation at a technology investment forum on Aug. 12. There, they announced that while inventories remained high, cloud and graphics have meaningfully increased demand for memory chips.This news became the catalyst that took the Micron stock price from the low-$40s per share range to over $50 per share today. I have described MU stock as a different breed from chip stocks such as Intel (NASDAQ:INTC), AMD (NASDAQ:AMD), or Qualcomm (NASDAQ:QCOM). MU stock remains a proxy for memory prices, and the recent uptick again shows that. MU Stock and Long-Term ProspectsAdmittedly, even as the stock fell from the low-$60s per share range to below $30 per share, the long-term outlook has remained strong. Artificial intelligence (AI), self-driving cars, the Internet of Things (IoT), and 5G will drive a permanent increase in demand for memory chips.Moreover, bitcoin again sells for over $10,000. The decline of crypto played a significant role in the falling demand for memory. Hence, it stands to reason that a price recovery should lead to at least a partial revival in demand for memory as crypto mining again becomes more economical.Furthermore, valuations remain reasonable. MU currently supports a forward price-to-earnings (PE) ratio of 19.8 and a trailing PE of around 5.9. Granted, with the rock-bottom PE ratio Micron has supported, the forward PE may appear pricey. The average PE ratio over the last five years has stood at only about 12.8.However, over the last month, Micron received something it had not seen in some time--rising earnings estimates. After falling for more than a year, earnings estimates for this year now stands at $6.23 per share. For fiscal 2020, they have risen to $2.56 per share. I expect the 2020 forecast will keep rising if the demand estimates hold. Watch out for the Short TermHence, I expect MU stock will keep moving higher from here over time. The question becomes what it will do in the short term. I made my wrong call early last month at around $41 per share.Now that MU has moved past $50, it has seen an increase of more than 20% in just over a month. I do not think it will return to the low $40s per share range anytime soon. However, this relatively quick rise could bring some profit-taking and a partial pullback.Moreover, investors should note that trade talks have resumed. Negotiations do not constitute an agreement. Admittedly, they could lead to one at any time. In that case, I think MU stock spikes higher from here.However, we have been on the cusp of an agreement more than once only to see negotiations fall apart. This sent MU and other stocks down before. It would likely do so again. I see such an action as the ideal time to buy Micron stock. The Bottom Line on Micron StockRising demand has helped to revive MU stock. Now, investors need to know when to buy. A management presentation pointing to increasing demand began a surge in MU that would take the equity more than 20% higher over the next month. Analyst revisions and better prospects for a trade deal almost helped Micron.However, the surge in MU stock could lead to some profit-taking. Also, it remains possible that trade talks will deteriorate. For these reasons, Micron stock could face a short-term pullback.Still, even if sentiment turns bearish for a time, the long-term prospects for MU stock have begun to bear fruit. This should only accelerate as consumers start to buy 5G-compatible smartphones.Investors who want to protect themselves from a short-term pullback should either buy in slowly or wait. However, the recovery in the chip sector has begun in earnest. This by itself makes MU stock a buy, if not now, then soon.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post Micron Stock Is Poised to Surge, but Be Careful in the Short Term appeared first on InvestorPlace.

  • Trump Delays China Tariff Hikes, ECB Cuts Rates; Dow Jones Futures Rise
    Investor's Business Daily

    Trump Delays China Tariff Hikes, ECB Cuts Rates; Dow Jones Futures Rise

    President Trump delayed China tariff hikes to Oct. 15 in a China trade war "gesture." The ECB cut rates and will restart monetary stimulus. Dow Jones futures and Apple rose.

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    Stocks - U.S. Futures Rise as Trump Postpones Tariff Increase

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  • 3 Dividend-Paying Semiconductor Stocks to Buy in September
    Zacks

    3 Dividend-Paying Semiconductor Stocks to Buy in September

    Let's take a look at three semiconductor stocks that pay a dividend that investors might want to consider buying right now...

  • Micron (MU): NAND/DRAM Demand Improves, But Caution’s Still the Watchword at Morgan Stanley
    TipRanks

    Micron (MU): NAND/DRAM Demand Improves, But Caution’s Still the Watchword at Morgan Stanley

    More than a month after Morgan Stanley's Joseph Moore last upgraded Micron (MU) stock, things are playing out more or less as the analyst predicted. "Supply risks," which Moore highlighted at the time, are reviving demand among computer memory users to build up inventory, lending at least some support to prices. And yet, the 5-star analyst remains cautious on Micron, and unwilling to recommend "buying" it. For now, Moore remains sidelined on the stock with an Equal-weight rating and $48 price target. (To watch Moore's track record, click here)Consistent with Moore's predictions back in July, actual "supply challenges in [obtaining] NAND, and perceived challenges in DRAM," incentivized customers to accumulate inventory of both DRAM and NAND flash memory in Q3 2019. DRAM demand may now be weakening again, and prices are falling. But demand for NAND, at least, "remains strong" in both volume, and in the prices Micron is getting for its product as well.Despite this positive development in the short term, however, Moore still worries that demand remains "challenged in nearly every memory consumer market." Furthermore, thanks in part to the recent accumulation of inventory among consumers, the analyst says "both producer and customer inventories" remain "excessive, so our longer term view is cautious."Moving into the fourth and final quarter of the year, Moore predicts that demand will decline both sequentially (i.e. versus Q3) and year over year (i.e. versus Q4 2018). And with less demand will come lower prices -- down "at least 10%" in the fourth quarter, and potentially even worse than that.Accordingly, Moore says DRAM margins have not yet hit bottom.The picture in NAND is a bit better. "NAND improvements have persisted longer than our initial expectations," reports the analyst. What's more, producers such as Micron have plenty of supply on hand with which to sell at "better pricing" so long as demand remains strong. Indeed, pricing might even improve "through year end."And yet, even here Moore sounds a cautious note. NAND demand looks so good right now that the analyst worries it just might be "unsustainably strong" (emphasis Moore's). Even as supply growth runs wild (up 60% versus last year in the most recent month), Moore notes that there's been "significant customer inventory accumulation." Any shock to demand for smart phones, for example, could be enough to convince buyers to work down their "significant" inventories of NAND flash memory, instead of buying more.Nevertheless, the upshot of all the above is still a somewhat brighter picture for Micron stock. With unit volumes shipped growing and price declines slowing, Moore now predicts that Micron will reap sales of about $4.7 billion in Q4 (5% better than previously predicted), and earn $0.56 per share -- 27% better.Looking a bit farther out to the November quarter (i.e. Q1 2020), Moore sees sales moderating sequentially, but still better than previously predicted -- still $4.7 million. Earnings should likewise be a bit less robust than in Q4 2019 -- $0.48 per share. But relative to the $0.30 per share Moore was previously looking for in Q1 2020, that prediction, too, should leave Micron investors smiling.The only bad news? With Micron shares already up 12% from early August, and actually trading slightly ahead of Moore's $48 price target, it looks like the good news could already be priced into Micron stock.All in all, this 'Moderate Buy' stock is no Wall Street secret. After all, in just three months, the stock has attracted 15 'buy' ratings from Wall Street analysts, along with 5 'hold' and 2 'sell' ratings. However, the stock's consensus price target stands at $50.76. In other words, optimism is already priced into the stock. (See MU's price targets and analyst ratings on TipRanks)

  • Micron Stock Soars, Reaches a New High
    Market Realist

    Micron Stock Soars, Reaches a New High

    Micron Technologies (MU) stock has been gaining momentum for some time, as some analysts believe chip demand will rally in the near term.

  • Barrons.com

    Buy Micron Stock Because Chip Fundamentals Will Improve, Says Analyst

    (MU) stock will rally because memory-chip demand will exceed expectations, according to Longbow Research. On its conference call at the time, Micron said the industry environment was difficult, but it predicted memory demand would improve later this calendar year. Longbow Research analyst Nikolay Todorov on Wednesday raised his rating to Buy from Neutral for Micron stock.

  • Benzinga

    Longbow Upgrades Micron As Memory Market Fundamentals Improve

    Memory shipments are increasing, and DRAM and NAND pricing fundamentals are improving, reflecting upside at select hyperscales and the risk of tightening supply, Todorov said in a Wednesday note, citing channel checks.

  • 5 Top-Ranked Value Tech Stocks to Add to Your Portfolio
    Zacks

    5 Top-Ranked Value Tech Stocks to Add to Your Portfolio

    Here we take a look at five value technology stocks that are likely to benefit from strong cloud demand, growing adoption of AI solutions and IoT, among others.

  • Stocks - GameStop, Tilray Fall Premarket; Apple, Micron Rise
    Investing.com

    Stocks - GameStop, Tilray Fall Premarket; Apple, Micron Rise

    Investing.com - Stocks in focus in premarket trading on Wednesday:

  • 3 Big Stock Charts for Wednesday: Micron, JPMorgan Chase and Fastenal
    InvestorPlace

    3 Big Stock Charts for Wednesday: Micron, JPMorgan Chase and Fastenal

    Last week's bullishness continues to fade away, with the S&P 500 ending yesterday's action up a nearly immeasurable 0.03%. And, that gain only took shape in the last few minutes of the day's trading action.Source: Shutterstock Disney (NYSE:DIS) and Netflix (NASDAQ:NFLX) were the proverbial problem children, albeit for understandable reasons. The former fell while the latter was off by after Apple (NASDAQ:AAPL) unveiled its competing streaming service. Priced at only $4.99 per month, even offering less content than its rivals, the iPhone maker has tacitly declared something of a price war.To that end, AAPL shares gained more than 1% in response to its announcement.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat gain was chump-change compared to the 2.5% advance Bank of America (NYSE:BAC) shares logged today. BofA leads a group of bank stocks higher, in step with recovering interest rates. * 10 Healthcare Stocks to Buy Despite the Headlines Headed into hump-day, however, it's the stock charts of JPMorgan Chase (NYSE:JPM), Fastenal Company (NASDAQ:FAST) and Micron Technology (NASDAQ:MU) that have earned a closer look. Here's why, and what may lie ahead for each. Micron Technology (MU)Just a few months ago, Micron Technology was presumed to be in serious peril. Yet another memory chip glut had lowered prices, punishing manufacturers who dared to ramp up production to meet what was perceived to be sustainable demand.This year has been dramatically different though. Not only is MU stock up, it has moved higher in a way that has set the stage for an explosive move higher from here. It will need some help to do so, and the effort may not be long-lived. The potential is tremendous though. * Click to EnlargeThe key clue here is the upside-down head and shoulder pattern. The neckline is marked in yellow on both stock charts. The theory goes, once the neckline fails as resistance, MU stock can rally nicely. * Micron shares are moving into the opportunity well-positioned too. The purple 50-day moving average line recently crossed above the white 200-day moving average line, and MU shares found support at the 50-day line a couple of weeks back. * While the basic shape of the chart is right, there are some flaws. Namely, a handful of bullish gaps were left behind since early last week, now begging to be closed sooner or later. JPMorgan Chase (JPM)Micron Technology isn't the only name on the verge of benefiting from what appears to be an upside-down head and shoulders pattern, however. JPMorgan Chase is as well. Although it's not as well-formed as Micron's and has moved a little more erratically as it has unfurled, the prospective upside is still noteworthy.In fact, JPM stock is arguably better positioned to make a nice run given a hint offered up on the long-term weekly chart. * 7 Upcoming IPOs for September * Click to EnlargeAs is the case with MU stock, the neckline of the JPMorgan head-and-shoulders setup is plotted in yellow on both stock charts. It extends all the way back to the early-2018 peak. * Simultaneously, the string of higher lows seen since December of last year is actually an extension of a support line that started to materializing in 2016. It's marked as a red dashed line on the weekly timeframe. * If the head-and-shoulders setup pans out, the move could carry JPMorgan Chase as high as $142. That 25-point move between here and there is roughly the same distance between the neckline and the low of the 'head.' Fastenal Company (FAST)Finally, the last time we looked at Fastenal Company shares back on July 22, the stock was fighting a losing battle. Its 50-day moving average line capped a rally attempt, and sent shares lower to test a major support line around $30. The bulls tried to push back, but by early August that last-ditch floor was broken.The sheer scope and speed of the selloff, however, didn't let FAST stock move all the way back to a long-established floor where it would be able to make a reversal. The rebound started to take shape just a few days later, and is sending the stock soaring to a new paradigm now. * Click to EnlargeThe old trading range framed by yellow lines appears to have been reframed. The new floor and ceiling, though far from cemented, are marked in red dashed lines. * But, if the previous technical ceiling is still in play, FAST stock is just under it right now. This would be a good place for the sellers to take a stand, or at least take profits. * What's missing with the rebound effort thus far is meaningful volume behind the move. That might take shape if Fastenal is pressured lower, but survives the weakness.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 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post 3 Big Stock Charts for Wednesday: Micron, JPMorgan Chase and Fastenal appeared first on InvestorPlace.

  • Investing.com

    Stocks - Wall Street Higher; Apple Continues to Rise

    Investing.com – Wall Street ticked higher on Wednesday, as Apple (NASDAQ:AAPL) led a gain in technology stocks, rising after a positive response from Wall Street analysts to its new iPhones, revealed on Tuesday.

  • Barrons.com

    Buy Micron Stock Because Memory Demand Will Eventually Rise, Says Analyst

    Micron Technology stock will rally because of improving demand for memory chips into next year, according to KeyBanc Capital Markets.

  • Why Micron Stock Still Has Plenty of Room to Run in 2019
    InvestorPlace

    Why Micron Stock Still Has Plenty of Room to Run in 2019

    As Micron (NASDAQ:MU) approaches its $50 yearly high, investors must ask themselves if MU stock will continue marching higher. Much of the rally is built on two premises: the U.S.-China trade war is on pause and stronger chip demand is expected for the rest of the year. To argue the bullish case, assume for a moment that these expectations prove accurate.Source: Charles Knowles / Shutterstock.com China's retaliatory tariffs on $75 billion worth of U.S. goods are but a distant memory. Micron stock fell to the low $40's on Aug. 23. But when the U.S. announced no immediate trade negotiations or progress and instead pointed to talks resuming in October, MU stock soared. It added another 8.5% in the last week, closing recently at $49.13. And since the market is pricing expectations for the future, investors may expect tariffs staying. Suppliers now know exactly what extra taxes they face, so knowing how much costs change will allow them to adjust output accordingly.MU stock was not the only winner in the last week. In that time, Intel (NASDAQ:INTC) rose 8.9% while Nvidia (NASDAQ:NVDA) rose 7.8%. Oddly enough, Advanced Micro Devices (NASDAQ:AMD) did not participate in the rally, falling 3% in the last week. Micron stock may benefit from being among the cheapest semiconductor stocks at a price-to-earnings ratio of 5.8X. As business returns to normal levels, investors may find MU stock is still trading at a discount.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Micron's OutlookMicron is confident that the long-term outlook for memory and storage is compelling. Secular trends, such as AI, autonomous driving (ADAS), IoT and 5G, will not just go away because of the troubling trade wars. In the last quarter, Micron benefited from customer inventory improvements. Given that positive development, Micron forecast demand for DRAM (memory chips) returning to healthy year-over-year growth in the second half of this year. * 10 Healthcare Stocks to Buy Despite the Headlines Micron also forecast NAND (used in solid state storage) bit demand increasing in most of its markets. Although chip suppliers suffered from weak pricing power for NAND in the last year, that trend stimulated demand. The rebound in NAND demand justifies the recent rally in MU stock. But to drive profit margins higher, Micron cut capital expenditures to align industry supply with current demand levels. MU: Pushing InnovationMicron now attributes high-value solutions to two-thirds of NAND revenue. It launched data centers that use high-speed NVMe SSDs for cloud and enterprise markets. And in the third quarter, it more than doubled shipments of its NVMe client SSDs to large PC OEMs.In the mobile market, the company offers mobile DRAM products that are extremely energy efficient compared to the competition. In Q3, DRAM shipments for the enterprise were at levels higher than management expected. It forecast continued demand momentum for the current Q4 period. Headwinds Bearing Down on MU StockRestrictions against Huawei hurt NAND revenue and shipment levels. If the U.S. did not impose such restrictions, DRAM and NAND revenue would have met the company's high end of guidance. In the remote chance that the U.S. and China agree on a trade deal, the U.S. may lift the tough restrictions Huawei now faces.Micron increased its NAND inventory levels for calendar 2019 and 2020 in anticipation of higher demand. It also held above-average DRAM inventory for the same reason. If the expected demand does not arrive, Micron may have to sell excess inventory at reduced prices. Valuation and Your TakeawayMicron knows better than investors and analysts what demand levels will be like for the rest of the year. Although it did not issue a FY 2020 forecast, its expectations for stronger demand will lift its profit margins. Investors may assume that in a 10-year DCF Revenue exit model, a revenue exit model of 1.5 times to 2.5 times.Micron reports results after the market closes on Sept. 26. If it confirms that strong demand is ahead, then the stock has more upside.As of this writing, Chris Lau did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post Why Micron Stock Still Has Plenty of Room to Run in 2019 appeared first on InvestorPlace.