|Bid||36.42 x 800|
|Ask||36.48 x 900|
|Day's Range||36.37 - 37.22|
|52 Week Range||33.82 - 64.66|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||3.16|
|Earnings Date||Dec 18, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||63.45|
Many of the semiconductor stocks have sold off in the recent market weakness and are now trading with single digit P/Es. Should value investors be taking a look?
Qualcomm (NASDAQ:QCOM) stock continues to be a roller coaster. Less than three months ago, QCOM stock reached its highest levels in almost four years. Since then, QCOM stock has dropped 28% and is now threatening to broach its multi-year support near $50.
2018 has been a volatile year for the entire stock market. The United States–China trade war has created demand uncertainty. The tech sector and the semiconductor industry overcame the first two sell-offs and continued their growth trend.
Nvidia stock seemed at worst to have a growth trajectory that would last for years, backed not only by gaming, but also by datacenter, artificial intelligence, and automotive. With NVDA stock now at $150, valuation seems less pressing.
NVIDIA (NVDA) stock slid 12%, or $19.73, on November 19 to $144.70 and touched a new 52-week low of $144.63 in Monday’s session amid concerns related to the production cut of Apple’s new iPhone models. On Monday, reports indicated that Apple had slashed orders for new models of its smartphones due to weak demand for iPhones, which will likely also impact the memory-chip makers. Monday’s decline in NVIDIA stock prices came after last Friday’s drop of almost 19% when the semiconductor player reported a weak third quarter of fiscal 2019.
Goldman Sachs identified Facebook and Micron among a list of companies that had the biggest declines in hedge fund ownership during the third quarter. Such “falling stars” have historically continued to trail the market over the next three to 12 months, strategists led by Ben Snider and David Kostin wrote in a note to clients Wednesday.
Apple (AAPL) has been witnessing weaker-than-expected demand for its new iPhone models, which has pushed suppliers to cut down on orders. According to analysts like RBC Capital Markets analyst Amit Daryanani, the cut in iPhone production is normal for the iPhone cycle.
Gerra expects Micron's core DRAM and NAND memory chip businesses to decelerate in pricing and performance over the next eight consecutive quarters. Micron's DRAM chips, or dynamic random-access memory, are used in desktop computers and servers, while its NAND flash memory is used in smartphones and solid-state drives.
Micron Technology Inc (NASDAQ:MU), a large-cap worth US$45b, comes to mind for investors seeking a strong and reliable stock investment. Most investors favour these big stocks due to their strong Read More...
Analyst Tristan Gerra is forecasting “eight consecutive quarters of gross margin and EPS contraction,” prompting him to slash his target on the stock from $75 to $32. Virtus Financial’s Joe Terranova is watching Intel since unlike its competitors it’s higher for the quarter, while Douglas C. Lane’s Sarat Sethi likes Nvidia after its significant pullback.
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.
(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 ...
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.
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.
Shares of Micron Technology Inc. are down 6.3% in premarket trading Tuesday after Baird analyst Tristan Gerra downgraded the stock to underperform from outperform. He also lowered his price target to $32 from $75. "Continued deterioration in both DRAM and NAND pricing leads us to model eight consecutive quarters of gross margin and EPS contraction," Gerra wrote. He expects that gross margin for DRAM products will slip to 50% in the second half of the 2020 calendar year, down from a recent peak of 71%. On NAND, he writes that contract pricing is "expected to decline mid teens" in the next two quarters. "China is a risk notably for NAND in 2021," Gerra said. Micron shares have lost 23% over the past 12 months, as of Monday's close, while the S&P 500 has risen 4.2%.
Tuesday 21.00 GMT Another day of extreme turbulence across financial markets saw global equities sell off sharply, oil prices tumble and the dollar swing from losses to gains as concerns intensified about ...