|Bid||0.00 x 900|
|Ask||0.00 x 800|
|Day's Range||34.05 - 36.99|
|52 Week Range||33.82 - 64.66|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||3.14|
|Earnings Date||Dec 18, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||63.45|
As market participants become increasingly wary of the risks facing the stock market, the desire for a proven performer has put Cisco Systems, Inc. (NASDAQ: CSCO) and Cisco stock on their radar. Most telling is Cisco’s response to lower DRAM prices (DRAM is a type of computer memory) and the tariff war between the U.S. and China. The company said that it acquired DRAM for its hardware before DRAM prices went up.
Baird’s Tristan Gerra downgraded the stock to Underperform and cut the price target to $32 from $75, implying that the stock has another 12% to fall.
Tech stocks were sliding in early trading Tuesday, continuing Monday's slump. Demand for semiconductor products is indirect and driven by sales personal computers, cell phones, consumer electronic devices, and other electronic equipment.
Nvidia (NASDAQ:NVDA) did most of the damage, falling 12% thanks to a combination of imploding cryptocurrencies and uncertainty as to the merits of the gains Advanced Micro Devices (NASDAQ:AMD) dished out earlier this year following its third-quarter report. AMD stock was down as well for the same reasons though, off to the tune of 7.5%. To that end, the stock charts of Intuit (NASDAQ:INTU), Micron Technology (NASDAQ:MU) and PulteGroup (NYSE:PHM) are of interest this morning mostly because they’re all working their way into conditions that supersede the market’s ultra-short-term odds.
Micron shares fell 7 percent in early trading after brokerage Baird Equity Research downgraded the stock to "underperform", citing fall in memory chip prices. Advanced Micro Devices Inc shares fell 7 percent, while those of Nvidia Corp shed 5.7 percent, taking an additional hit from one of the top cryptocurrency Bitcoin plunging to its lowest in 2018.
(Reuters) - Shares of Micron Technology led falls for U.S. microchip producers on Tuesday, driven by a combination of concerns over slackening iPhone demand and a series of brokerage downgrades that reflect ...
In the previous article, we learned that NVIDIA’s (NVDA) new Turing-based GeForce RTX 2080 Ti Founders Edition GPU (graphics processing unit) has been facing performance issues. The company has acknowledged the problem and stalled the sales of these GPUs. NVIDIA’s statement failed to specify what percentage of RTX 2080 Ti GPUs had been affected by this problem.
Shares of Western Digital Corp. are down 5% in premarket trading Tuesday after Susquehanna analyst Mehdi Hosseini downgraded the stock to neutral from positive. He also lowered his price target to $44 from $120, writing that he's "lost confidence in Western Digital's ability to benefit from [solid-state-drive] substitution of [hard-disk drives]." Hosseini is also skeptical of the company's "ability to manage the downturn" into the next calendar year amid downbeat predictions for the NAND pricing trajectory. "Western Digital is not as 'protected' as other NAND vendors that have more stable high-margin DRAM streams," he wrote. "Said another way, Western Digital competitors Micron, Hynix and Samsung all have higher margin DRAM businesses (currently 60%+ gross margin) which can to some extent offer a cushion for more aggressive NAND gross-margin declines, and help minimize the decline in blended gross margins." Also on Tuesday, Baird analyst Tristan Gerra cut his rating on Micron Technology Inc. shares to underperform from outperform. Micron's stock is off nearly 7% in premarket trading Tuesday. Western Digital shares have lost half their value over the past 12 months, as of Monday's close, while Micron shares have tumbled 23% in that time. The S&P 500 is up 4.2% over the past year.