144.60 -2.34 (-1.59%)
After hours: 6:34PM EST
|Bid||144.25 x 800|
|Ask||144.50 x 1000|
|Day's Range||144.25 - 150.33|
|52 Week Range||133.31 - 292.76|
|Beta (3Y Monthly)||2.65|
|PE Ratio (TTM)||19.64|
|Earnings Date||Feb 6, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||0.64 (0.44%)|
|1y Target Est||228.44|
Micron (MU) reported fiscal 2019 Q1 earnings after the market close Tuesday. “Micron reported strong profitability in the fiscal first quarter, highlighted by double-digit year-over-year revenue growth across our major markets and solid business execution,” president and CEO Sanjay Mehrotra said in a statement.
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In the last couple of months, the negativity surrounding Apple (AAPL) has gone up significantly. This negativity along with the broader market sell-off (QQQ) (VTI) has caused a steep drop in Apple stock lately. Apple’s ability and interest in the AI (artificial intelligence) area is no more a secret now.
As we noted in the previous part, 2018 has been a lackluster year for markets (QQQ). At the beginning of 2018, not many people predicted that 2018 would be a weak year. However, President Trump’s trade war and the Fed’s tightening led to pessimism in the markets. We also saw an inversion of the yield curve that stoked recession fears.
Berkshire Hathaway (BRK-B) chair Warren Buffett hasn’t been an admirer of cryptocurrencies. Buffett also said that “in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.” He added, “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth.” Given the sharp decline in bitcoin, Buffett seems to have had the last laugh. Along with the trade spat between the United States (SPY) and China, the crash in cryptocurrencies like bitcoin was a key highlight of 2018. The prices of bitcoin, the most popular and well-known cryptocurrency, have fallen to almost $3,000.
Investing.com - Chipmaker Micron gave up gains Monday as analysts expressed caution ahead of the chipmaker's quarterly results due Tuesday.
Micron Technology’s (MU) earnings are important for its investors as well as Intel (INTC) and NVIDIA’s (NVDA) investors. Micron supplies PC and server DRAM (dynamic random access memory) to Intel and GDDR (graphics double data rate DRAM) chips to NVIDIA’s gaming GPUs (graphics processing units). Micron was the launch partner of NVIDIA’s latest RTX GeForce gaming 2080 Ti and 2080 GPUs.
Previously in this series, we saw that Micron Technology’s (MU) stock has fallen 35% since September 1, offsetting its eight-month rally at the start of the year. At Credit Suisse’s 22nd Annual Technology conference, Micron CEO Sanjay Mehrotra stated that he expects to report revenue and EPS near the lower end of Micron’s guided ranges of $7.9 billion–$8.3 billion and $2.88–$3.02, respectively. The guidance was already below analysts’ consensus estimate, and Mehrotra’s comments encouraged analysts to further slash their earnings estimates for Micron.
Micron Technology (MU) is scheduled to release its earnings for the first quarter of fiscal 2019 on December 18. For Micron investors, the first quarter is the most awaited earnings. The earnings should answer investors’ fears about the memory industry downturn. In the upcoming earnings, investors should watch for two figures.
Apple (AAPL) is on its way to register a massive quarterly drop in the fourth quarter. Apple stock has already lost 26.7% as of December 14. Microsoft (MSFT) has seen 7.3% losses sequentially. Qualcomm (QCOM) and NVIDIA (NVDA) have fallen 47.9% and 20.0% sequentially, respectively. So far, the massive sell-off in the top tech companies has resulted in 14.1% losses in the NASDAQ Composite Index (QQQ) in the fourth quarter, while the S&P 500 benchmark (SPY) (VTI) has fallen 10.8%.