MSFT - Microsoft Corporation
Chart Events
Commodity Channel Index
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 204.70 |
| Open | 205.68 |
| Bid | 206.60 x 1100 |
| Ask | 206.74 x 800 |
| Day's Range | 205.11 - 208.02 |
| 52 Week Range | 130.78 - 208.02 |
| Volume | 27,948,794 |
| Avg. Volume | 37,917,577 |
| Market Cap | 1.564T |
| Beta (5Y Monthly) | 0.93 |
| PE Ratio (TTM) | 34.37 |
| EPS (TTM) | 6.00 |
| Earnings Date | Jul 16, 2020 - Jul 20, 2020 |
| Forward Dividend & Yield | 2.04 (0.99%) |
| Ex-Dividend Date | Aug 19, 2020 |
| 1y Target Est | 203.73 |
Fair Value
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- Motley Fool
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- Yahoo Finance
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- Zacks
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- Benzinga
BNY Mellon Collaborates With Microsoft, Expands Data And Analytics Offering
The Bank of New York Mellon Corporation (NYSE: BK), a global financial services company, formally announced the launch of new data and analytics solutions designed to help investment managers better manage data, launch funds, and customize investment portfolios to preferred Environmental, Social, and Governance (ESG) factors.What Does It Mean?The development comes as a natural evolution of BNY's product portfolio. In an effort to broaden the flexibility and dependability of its cloud-based financial services capabilities, BNY Mellon Data and Analytics is releasing the following offerings: * Data Vault: A cloud-based platform for the rapid onboarding of data and accelerate client innovation and discovery. With the platform's scalable machine-learning approach to data quality, users can quickly and easily interact with data to gain actionable insights. * Distribution Analytics: A machine-learning-assisted functionality that enables asset managers to better understand market demand drivers and sales momentum. * ESG Data Analytics: An AI that enables the customization of investment portfolios to individual ESG factors via crowdsourced data and demonstrability screens."Our vision is to take data from being a by-product of our traditional business to thinking about it as a new asset class in its own right," Charles Teschner, Global Head of Data and Analytics Solutions for BNY Mellon told Benzinga. "What makes the launch of these new innovative cloud-based products so exciting, is that they have been designed to target our clients' unmet needs.""We're working closely with our clients to understand key critical issues they are facing and that need to be rapidly addressed to produce products that offer the most amount of value to meet their evolving needs in the front, middle and back-office."Overall, the cloud-based solutions built on Microsoft Corporation's (NASDAQ: MSFT) Azure technology will help clients derive enhanced alpha-generating opportunities when managing assets."The scope and scale of BNY Mellon's investment data, coupled with our portfolio of Azure products and services, will lead to solutions that enhance data as an asset and optimize the accessibility of information for investment managers," said Judson Althoff, executive vice president of Microsoft's Worldwide Commercial Business.To learn more about new data and analytics with BNY, click here.Photo by Scott Webb from Pexels.See more from Benzinga * Fintech Focus For July 3, 2020 * Fintech Focus For July 2, 2020 * 'Breaking The Information Asymmetry': Capital Market Laboratories Launches Technical Analysis Chart Profit Builder(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Motley Fool
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- Bloomberg
Zoom’s Newest Challenger: Budding Internet Tycoon Mukesh Ambani
(Bloomberg) -- Zoom, one of the few success stories of the Covid-19 pandemic, now faces a new competitor in an app backed by Asia’s wealthiest person Mukesh Ambani.Ambani’s Reliance Industries Ltd., which has scored billions of dollars of investments from Facebook Inc. to Intel Corp. for its digital businesses, has launched the JioMeet video conferencing app after beta testing. The app has already garnered more than 100,000 downloads on the Google Play Store after becoming available Thursday evening.Like Google Meet, Microsoft Teams and other services, JioMeet offers unlimited high-definition calls -- but unlike Zoom, it doesn’t impose a 40-minute time limit. Calls can go on as long as 24 hours, and all meetings are encrypted and password-protected, the company said on the JioMeet website.The launch coincided with a nationwide ban on dozens of popular apps from Chinese technology giants including ByteDance Ltd.’s TikTok and Alibaba Group Holding Ltd.’s UC Web, on grounds they threatened security and data privacy. JioMeet went viral Friday on social media alongside the hashtag MadeinIndia.The app is one facet of Ambani’s rapidly expanding digital empire, which includes India’s largest telecom operator with nearly 400 million users. On Friday, Reliance announced Intel Capital has invested $253 million into Jio Platforms Ltd., a unit of Ambani’s oil-to-retail conglomerate. The U.S. chipmaker’s arm is the 11th investor in about as many weeks to announce its backing for the digital services platform, which has now raised about 1.2 trillion rupees ($15.7 billion).“JioMeet will be a very credible disruptor in the space,” said Utkarsh Sinha, managing director of boutique consultancy Bexley Advisors. “Just the fact that it has no time limits on calls makes it a serious challenger to Zoom, despite its entrenchment.”Jio Platforms is amassing a wide range of services from music streaming to online retail and payments, fast turning into an ecommerce juggernaut that can take on Alphabet Inc.’s Google and Amazon.com Inc on its own home turf. Like elsewhere, video conferencing apps have become lifelines for millions of Indians working in cramped homes during Covid-19 lockdowns.JioMeet is also debuting at a time Zoom users have accused the service of security flaws. It’s been accused of siding with China after deactivating accounts of pro-democracy activists in the U.S and Hong Kong, which it said was intended to comply with Chinese law.(Adds total investment in Jio in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Facebook Under Fire as Companies Pause Social Media Ads: List
(Bloomberg) -- Here’s a list of companies that are planning to halt spending on social media. 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Will post on social media without paid promotion.Microsoft Corp. -- Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc -- Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Volkswagen AG -- The ad stop on Facebook affects the direct ad accounts of the German manufacturer’s brands, including Porsche, Audi and Lamborghini. 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We’re pulling all Facebook/Instagram advertising for the month of July.”Upwork Inc. -- No Facebook advertising in July.Eileen Fisher Inc. -- Pulling ads from Facebook through July.Adidas AG -- Will stop ads on Facebook and Instagram internationally through July, according to Adweek.Puma SE -- Will stop all advertisements on Facebook and Instagram throughout July.Madewell Inc. -- Will pause ads on Facebook and Instagram through July.Pfizer Inc. -- Removing all advertising from Facebook and Instagram in July, calls on Facebook to heed the concerns of the StopHateForProfit boycott campaign “and take action.”Chipotle Mexican Grill Inc. -- To pause Facebook advertising beginning July 1, according to an email.Chobani -- The Greek-yogurt company paused all paid social-media advertising.Peet’s Coffee -- Paused advertising on Facebook.Sony Interactive Entertainment Inc. -- ”In support of the StopHateForProfit campaign, we have globally suspended our Facebook and Instagram activity, including advertising and non-paid content, until the end of July.”(Updates with Sony Interactive Entertainment)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Google, Temasek Are Said to Be in Talks to Invest in Tokopedia
(Bloomberg) -- Google and Temasek Holdings Pte are in negotiations to join a funding round of between $500 million and $1 billion for Indonesian e-commerce giant PT Tokopedia, according to people familiar with the matter.Tokopedia, the online marketplace backed by SoftBank Group Corp.’s Vision Fund, has held talks with U.S. internet giants including Facebook Inc., Microsoft Corp. and Amazon.com Inc., the people said. But Google and Temasek have been more active in their negotiations and those talks may conclude in coming weeks, they said, asking not to be identified because the discussions are private.America’s largest internet corporations have looked increasingly toward Asia as growth in the U.S. and Europe slows, seeking to tap the region’s rapidly growing smartphone-savvy population. Facebook is buying a stake in India’s Jio Platforms, while its WhatsApp unit struck a deal last month to invest in ride-hailing and food delivery giant Gojek. Representatives for Tokopedia and Temasek declined to comment. Google didn’t respond to an email seeking comment.The backing of Alphabet Inc.’s Google and Singaporean state investment firm Temasek would mark a major boost for one of Southeast Asia’s biggest e-commerce operators. Tokopedia co-founder and Chief Executive Officer William Tanuwijaya built the country’s most valuable startup after Gojek after scoring early backing from SoftBank founder Masayoshi Son and Alibaba Group Holding Ltd. co-founder Jack Ma. It now plans to list shares at home as well as in another as-yet-undecided location, Tanuwijaya told Bloomberg News in October.Read more: SoftBank’s Bet on Sharing Economy Backfires With CoronavirusTokopedia came close to finalizing its latest financing this year before news emerged of a recent data theft attempt that may have affected 15 million of its users, one of the people said. It was also held back by the Covid-19 pandemic, which is rapidly changing the online shopping landscape in the world’s fourth most populous nation.E-commerce platforms are now moving quickly to serve the millions of people forced to make their first online purchases during widespread lockdowns. Singapore-based rival Shopee -- a unit of Sea Ltd. -- is catching up, while Alibaba last month appointed a longtime veteran to head up Lazada and “fight harder” as competition heats up.Indonesia has become a key battleground between the regional rivals: The country’s e-commerce market is projected to expand from $21 billion in 2019 to $82 billion by 2025, according to a recent study by Google, Temasek and Bain & Co.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Google Probe Has States Split on Strategy With U.S. Antitrust Case Looming
(Bloomberg) -- With the U.S. Justice Department nearing a lawsuit against Alphabet Inc.’s Google for antitrust violations, a coalition of states that are conducting a parallel investigation are divided over the best strategy for taking on the internet giant, according to people familiar with the matter.While the multistate investigation into Google’s dominance of the digital advertising market is in its final stages, some state attorneys general are advocating to take more time to investigate Google’s conduct in other markets and potentially bring a broader case against the company, said the people, who asked not to be named discussing a confidential matter.The disagreement could affect whether states join a Justice Department complaint about Google. Like the states, federal antitrust enforcers have been investigating whether Google is thwarting competition in the digital advertising market, where it holds a commanding position.The Justice Department, which is coordinating with the states, wants to move quickly, two of the people said, and is on track to file a complaint this summer, another person said, though it wasn’t clear what conduct the complaint will ultimately target. The department declined to comment.“While we continue to engage with ongoing investigations, our focus is on creating free products that lower costs for small businesses and help Americans every day,” Google said in a statement.State attorneys general can play a pivotal role in enforcement cases against companies when they band together in group investigations. They joined the Justice Department in suing Microsoft Corp. in 1998 for antitrust violations. The case nearly led to the break-up of the company when a judge sided with the government. After an appeals court reversed the ruling, the Justice Department under the George W. Bush administration settled the case.Two people familiar with the states’ investigation said the split among the states reflects normal tension about the best litigation strategy. A broad complaint would cover more conduct but would take more time to complete.Texas Attorney General Ken Paxton is leading the investigation into Google’s conduct in the digital advertising market, which was announced in September on the steps of the Supreme Court. Other states, including Utah and Iowa, are focusing on internet search. Google dominates web search in the U.S., and rivals have complained that the company has prioritized its own services, such as travel and restaurant reviews, in results.Texas declined to comment. Representatives from Utah and Iowa didn’t immediately respond to requests for comment.The digital advertising part of the probe focuses on Google’s control of the tools that deliver display ads across the web. Google owns much of the technology used by publishers and advertisers to buy and sell advertising space. Google has been accused of using its dominance to siphon advertising dollars from publishers.Earlier: Google Antitrust Road Map Goes to DOJ With U.S. Suit LoomingTexas is in the later stages of its probe in advertising and could join the Justice Department’s case with some states, said two of the people. States are still waiting to get a full look into the federal complaint, one of the people said.The investigations are so complex that few among the enforcers have a sense of what the Justice Department and all the states are doing, two of the people said.The investigation into online search is not advanced as far as Texas’s probe into the digital ad market, and some states are pushing for more time to investigate, said the people. At one point, states were also looking the company’s mobile operating system, Bloomberg reported last year, though it wasn’t clear whether that is an active part of the investigation.The chief executive officer of Google search rival DuckDuckGo Inc. said last month that state and federal enforcers have asked detailed questions about how to limit Google’s power in the search market as recently as the spring.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Yahoo Finance
'People can't apply to jobs they don't know exist': 2 simple ways employers can find Black talent
As companies struggle to invest in diversity, Harlem Capital managing partner Jarrid Tingle shares two tangible ways to make meaningful change.
- Insider Monkey
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- Reuters
CORRECTED-US STOCKS-Wall Street closes higher after biggest payrolls jump on record
Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way. All three major U.S. stock averages advanced, with the benchmark S&P 500 posting its fourth straight daily gain. Massive stimulus and hopes for a speedy economic rebound have returned the S&P 500 and the Dow to 7.6% and 12.6% below their record highs reached in February.
- InvestorPlace
Micron Reports Blockbuster Earnings. Should You Buy MU Stock?
Memory chip giant Micron (NASDAQ:MU) reported blockbuster third quarter earnings at the end of June which both whizzed past Wall Street expectations and impressed investors, with MU stock rising 5% to near post-March highs on the news.Source: Piotr Swat / Shutterstock.com But does this strong quarter mean you should buy MU stock?I'd say so.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMU stock isn't my favorite semiconductor stock to buy at current levels. The valuation is a bit stretched on the heels of a huge, 60%+ rally since March. Shares no longer look significantly undervalued to me. Rather, they look fairly valued.At the same time, though, the fundamentals in the memory market are dramatically improving. Thanks to catalysts like workflow digitization, new gaming consoles and 5G, Micron's demand trends will significantly improve over the next few months. Against that backdrop, it's easy to see Micron stock staying in rally mode.Net net, MU stock is a good -- but not great -- pick here.Here's a deeper look. Micron's Earnings Were GreatThere's no other way to put it. Micron's earnings were fabulous. * 7 Utilities Stocks to Buy With Reassuring Dividends Revenues rose 14% year-over-year, marking the first time revenues grew year-over-year since the first quarter of 2019. Revenues were also up 13% quarter-over-quarter. Better yet, revenues next quarter are expected to rise more than 20% year-over-year, so you're seeing this accelerating revenue growth narrative play out.Gross margins clocked in at 33.2%, up four points sequentially. They are expected to rise another two points next quarter, and be up five points year-over-year -- marking the first quarter of gross margin expansion since the first quarter of 2019.Positive operating leverage returned to the Micron growth narrative. After the opex rate rose year-over-year for two straight years, the opex rate in the third quarter dropped year-over-year for the first time since 2018. The drop is expected to happen again in the fourth quarter.Operating margins dropped just five percentage points year-over-year, the smallest decline in six quarters. Next quarter, operating margins are expected to rise seven points year-over-year.Broadly, then, what you're seeing with Micron is a company getting back into growth mode, with rapidly improving margins.In the semiconductor world, that's a winning combination. The Fundamentals Will Only Get BetterThe best part about MU stock is that the company's fundamentals will only get better going forward.Just look at all the demand catalysts on the horizon for this memory chip maker.Workflows are increasingly being digitized thanks to Covid-19. Even if "normal" returns and offices re-open, business investment into cloud technology and infrastructure will only accelerate going forward. This increased cloud investment will create meaningfully large tailwinds for Micron's data-center business.Meanwhile, looking into the back-half of 2020, Apple (NASDAQ:AAPL) is going to launch the 5G iPhone, while Microsoft (NASDAQ:MSFT) and Sony (NYSE:SNE) are going to launch their next-generation gaming platforms. Naturally, these once-in-a-decade product launches will spark supercharged demand in the smartphone and gaming end-markets -- two markets from which Micron derives a bunch of revenue.There's also the broader 5G demand driver here, as the global roll-out of 5G over the next few quarters should dramatically advance edge computing capabilities, which should allow for the emergence of an entirely new class of IoT devices and self-driving technology. Micron also provides chips into those end-markets.Net net, the fundamentals supporting Micron will only get better over the next few months.As they do, revenues will keep charging higher. Gross margins will keep expanding. Opex rates will keep dropping. Operating margins will rising. Profits will keep ballooning. And MU stock will keep rallying. But Micron Stock is Fairly ValuedThe only reservation I have with MU stock here and now is with respect to valuation.Plain and simple, Micron stock is no longer attractively undervalued.Wall Street believes -- and I agree -- that Micron should be able to leverage strong 5G and cloud demand tailwinds to drive robust, 10%+ revenue growth over the next two years. During that stretch, gross margins will meaningfully expand, opex rates will meaningfully drop and profits will soar. My modeling suggests earnings per share growth from about $2.70 this year, to $6 by 2022.MU stock historically trades at 10-times forward earnings, given its history of earnings volatility and exposure to supply-demand swings in the memory chip market.A 10-times forward earnings multiple on $6 in 2022 projected earnings per share implies a 2021 price target for MU stock of $60. Discounted back by 10% per year, that implies a 2020 price target of about $55.That's only a hair above where shares trade today.As such, I think it's fair to say that MU stock is fairly valued. Bottom Line on MU StockMicron just delivered blockbuster earnings which underscore that, despite the Covid-19 pandemic, the global semiconductor market is back.The fundamentals supporting this market -- and Micron -- will only improve going forward as demand trends accelerate. Against that backdrop, it's easy to see MU stock sustaining its current rally. But caution is warranted with respect to the valuation.Luke Lango is a Markets Analyst for InvestorPlace. He has been professionally analyzing stocks for several years, previously working at various hedge funds and currently running his own investment fund in San Diego. A Caltech graduate, Luke has consistently been recognized as one of the best stock pickers in the world by various other analysts and platforms, and has developed a reputation for leveraging his technology background to identify growth stocks that deliver outstanding returns. Luke is also the founder of Fantastic, a social discovery company backed by an LA-based internet venture firm. As of this writing, he was long MSFT. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Micron Reports Blockbuster Earnings. Should You Buy MU Stock? appeared first on InvestorPlace.
- Motley Fool
Here's Why Microsoft Stock Was Up 11% in June
Shares of Microsoft Corporation (NASDAQ: MSFT) increased another 11.1% in June, according to data provided by S&P Global Market Intelligence. With investments in personal computers, cloud, and video games, Microsoft continued to excel even while people were sheltering at home during the coronavirus pandemic. Microsoft has been so successful that it's closing physical retail locations for good.
- Reuters
US STOCKS-Wall Street jumps on record payrolls surge
Wall Street advanced on Thursday as investors headed into their long holiday weekend buoyed by a record payrolls jump, which provided assurance that the U.S. economic recovery was well under way. All three major U.S. stock averages were more than 1% higher, with the S&P 500 set to post its fourth straight daily advance and the Nasdaq on course to reach a second straight all-time closing high. Massive stimulus and hopes for a speedy economic rebound have returned the S&P 500 and the Nasdaq to about 7% and 12% below their record highs reached in February.
- Investor's Business Daily
Dow Jones Set For 1,000 Point Weekly Gain As Stocks Rally On Strong Jobs Report
Stocks moved off session highs but held solid gains Thursday afternoon as the Dow Jones Industrial Average rose nearly 300 points.
- Reuters
US STOCKS-Wall St gains as job growth accelerates, Nasdaq hits record high
Wall Street rose on Thursday, with the Nasdaq hitting an all-time high, after a record-setting increase in monthly U.S. jobs pointed to a rebound in business activity following the easing of coronavirus-led lockdowns. The U.S. economy created 4.8 million jobs in June, the most since the government began keeping records in 1939, but layoffs remained elevated and market gains were capped by another spike in new virus infections.
- GuruFocus.com
Nifty FAANG and Other 'One Decision' Investment Strategies
Looking at the stock market today, the first thought that comes to mind is that it is divorced from economic reality Continue reading...
- Bloomberg
Facebook Accused by Black Manager of Systemic Discrimination
(Bloomberg) -- Facebook Inc. was accused of systemic discrimination in hiring, compensation and promotion of Black people in a complaint to federal civil rights authorities.Thursday’s complaint to the U.S. Equal Employment Opportunity Commission by a Washington-based operations program manager adds pressure on the social network, which is facing an advertising boycott over its failure to remove violent, divisive, racist and discriminatory posts. Along with other major tech companies, Facebook also has been criticized for its lack of diversity.Oscar Veneszee Jr., a decorated 23-year U.S. Navy veteran hired by the company in 2017 to recruit other workers retired from the armed services, said he filed the complaint after his objections to Facebook managers over treatment of African Americans went nowhere. It was filed as a class action to represent other Black people who’ve experienced discrimination inside the company, as well as those who claim they were unfairly denied jobs with the social network.“The only way to get contributions from Black experience is to have more Black employees at the company,” Veneszee said in an interview. “I think the desire is there, but I don’t think there’s an understanding of what’s required to transition to a company that’s more open, to being diverse, bold.”Facebook said “we take any allegations of discrimination seriously and investigate every case.””We believe it is essential to provide all employees with a respectful and safe working environment,” spokesperson Pamela Austin said in an email.Facebook, along with Google and Microsoft Corp., have renewed pledges to prioritize diversity in the wake of nationwide protests and calls to end systemic racism after the police killing of George Floyd. Veneszee said he was motivated to complain to the EEOC in part by recent protests.“We are really as a country talking about getting it right this time,” Veneszee said in the interview. “As I look at our response, I don’t think it has connected to the pain deep enough in order to develop solutions that are going to be better for us as a company.”A recent Bloomberg News analysis of diversity reports published by the world’s biggest tech companies shows little progress has been made transforming them from a predominantly white and male universe, with Black workers remaining mostly absent from management ranks and underrepresented in technical roles.Read More: Zuckerberg Agrees to Meet With Groups Behind Advertising BoycottDespite success at his job and positive feedback from managers, Veneszee said in the complaint, he was denied promotions, stalled by evaluations that said he merely “meets all expectations” as he ran into hostility and discrimination.Veneszee described his frustration as a Black employee of a company where, according to Facebook’s own figures, just 1.5% of employees in technical roles in the U.S. were Black in 2019, and 3.1% were Black among senior leadership. Those percentages have barely budged even as the company has added tens of thousands to a workforce that has grown by 400% over the last five years, according to the complaint.“There’s really no representation of diversity, of Black employees in mind, all the way across the company,” he said in the interview.Veneszee recalled being forced to apologize to a white recruiter after questioning a plan for interns that listed only one of the nation’s more than 100 Historically Black Colleges and Universities. He was told the question drove the recruiter to tears. After being routinely told that he must use the right “tone,” he said he came to realize the company is tone deaf toward Blacks.“Me asking about HCBU shouldn’t make you feel attacked, it shouldn’t offend you if we’re talking about diversity,” Veneszee said. He said it made him feel as if “the way I say things fell on a different set of ears at Facebook.”An EEOC spokesman said the agency can’t confirm or deny when complaints are filed and said they are handled confidentially.Veneszee’s lawyer, Peter Romer-Friedman of the Gupta Wessler firm, said the alleged violations of the Civil Rights Act of 1964 in the complaint should be viewed as an invitation to negotiate.The complaint seeks an independent monitor to determine if Facebook is making progress hiring more Blacks, or if stronger measures are required, he said.“We’re trying to extend an olive branch,” the lawyer said in an interview. “Oscar’s not trying to burn down the company from the inside or outside.”(Updates with company comment in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- InvestorPlace
3 Tech ETFs to Short Along With Covid-19’s Resurgence
This is the most enthusiasm I've ever seen in stock markets. Not from the size of the rally, but rather because the indices are setting all-time highs in the face of the toughest economic conditions ever. We still have 20 million people unemployed, if not more. Yet Wall Street is blindly buying tech ETFs in droves. The equity markets have already recovered in a "v" and more. The government aide packages are hiding the deep wounds that still exist in our economy. Just this morning, Congress passed the extension of the Paycheck Protection Program.Much of the risk appetite is favoring high risk momentum stocks. These are companies whose products and services serve the new world order of digital delivery and subscription models. Some of the ones making new highs are Peloton (NASDAQ:PTON), Zoom Video (NASDAQ:ZM) and even the older gurus like Salesforce (NYSE:CRM). The Nasdaq recovered best out of the quarantine crash, and in fact it has already set all-time-highs this morning with no let-up in sight.The bulls are tag-teaming MVP's, so they sell one group to rotate into another. For a while they chase mega-cap tech like Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB) and Netflix (NASDAQ:NFLX). Then on other days when they sell those, they roll their profits into frothier tickers like ZM and Roku (NASDAQ:ROKU).InvestorPlace - Stock Market News, Stock Advice & Trading TipsI am usually optimistic about the stock markets, but I have serious worries these days. Last year, I wrote about buying every dip stemming from the China trade war headlines. This is different because the U.S. went from full employment last year to maximum unemployment this year. The economic reports may look fine, but the wound from the quarantine is bleeding internally. This is not evident while the government is spending trillions of dollars supporting the deficit. The election season will pass and the politicians will lose interest in quantitative easing programs.Caution is warranted while markets behave like it's 1999. Investors should fade this extreme exuberance in the Nasdaq using the following three exchange-traded funds. I feel a little guilty for my negative tone, but in my defense, I suggested going long on the April 21 dip. Back then, it served as the base for this incredible 25% rally in these tech ETFs: * Invesco QQQ Trust (NASDAQ:QQQ) * VanEck Vectors Semiconductor ETF (NASDAQ:SMH) * Technology Select Sector SPDR Fund (NYSEARCA:XLK)I will start by sharing my order of preference on these bearish bets. Out of these three tech ETFs, the SMH seems the weakest because it has the most lower-highs in the last two weeks. Then the XLK because it has at least one recent failed breakout. Finally, only the QQQ is in open space and has no recent fails since it just made new highs. Tech ETFs to Trade: Invesco QQQ Trust (QQQ)Source: Charts by TradingView The QQQ is the main Nasdaq ETF that traders most often use. It is heavily concentrated with the top dogs and they are the great American companies led by Microsoft (NASDAQ:MSFT), Apple, Amazon (NASDAQ:AMZN), Facebook and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL). The top five make up almost half of the the entire basket. The call today is to fade the rally into the Fall season. Placing a bearish bet on the QQQ stock is simple when using options. Shorting the stock outright is too risky because it opens unlimited risk for as long as the rally continues.I realize that doing this now is going against the grain because it suggests fighting the Federal Reserve and the tape. Using options, investors can buy a long-term debit put spread to capture at least a 10% correction. This is a directional position that needs a drop to profit and time is its enemy. At the close of yesterday, traders could buy the December $242 / $232 debit put spread for $3 debit. This is the maximum potential loss per contract. To win, the QQQ has to fall ideally through both legs. The maximum upside potential is then $7 per contract. Those who have a bigger risk appetite can buy the $232 put naked for a cost of $12.80 per contract. In this runaway market that's a big ask.To lower or eliminate the entry cost, an alternative method is sell bear call spreads, which would leave room for error. The advantage here is that profits can come without a correction. All it needs to win is that the QQQ not rally more than 10% from here. For example, the December $280 / $285 credit call spread could pay $1.50 per contract. The advantage of this is that the price can rally and it can still win. Technology Select Sector SPDR Fund (XLK)Source: Charts by TradingView The XLK is another popular tech ETF and it is also heavily weighted with Microsoft and Apple, which make up more than 40% of it. But the XLK is also heavily influenced by Fintech. Visa (NYSE:V), MasterCard (NYSE:MA) and PayPal (NASDAQ:PYPL) to name three make up almost 15% of it. This complicates matters a little bit for the bears because they would be shorting two different hot concepts. Wall Street is not only in love with tech, but they are almost even more enamored with Financial Tech. PYPL stock rallied 115% off the Covid-19 low and is now miles above its prior highs. This is a good illustration of my concern.I understand the concept of momentum trading very well, but I usually prefer chasing a specific breakout. In this case, the bids are system wide and investors are buying whatever regardless of thesis. Investing is not that easy and there will be pain for many. The first step is to avoid chasing into such froth, and placing a few bearish bets makes sense. Both concepts here are over extended, so they are vulnerable to hiccups.Again, here the easy method is to buy some downside scenarios in the put options out until the end of the year. Placing shorter-term bets could pay quicker but then time becomes a worse liability. The XLK stock is just as exposed as the QQQ, so it comes down to a matter of taste. I find it easier to manage my trade with the QQQ than this one.The XLK has support through $100 per share, but if they lose it, the bears could try to target another $5 drop. Once again, my call today is not one of doom and gloom, but it would be normal to retrace prices back to the May breakout levels without changing the overall bullish thesis. The bulls can retain control for as long as they maintain the higher-low trend. Meaning, I would buy the dips when they come. VanEck Vectors Semiconductor ETF (SMH)Source: Charts by TradingView Another concept that investors are loving this year are chip stocks and they are best represented by the SMH. This tech ETF is heavily weighted by Taiwan Semiconductor (NYSE:TSM), Intel (NASDAQ:INTC) and Nvidia (NASDAQ:NVDA). These three account for almost 30% of the fund. I am a big fan of Intel and Nvidia stock and I wrote about buying every dip in them. Like the XLK, SMH's chart has support just below current levels and a pivot zone at $142 per share. The bulls will defend the zone vigorously because they are an emotional bunch over these stocks. To short the SMH from relative safety, buy the Nov $130 / $120 debit put spread for under $2 per contract. This is a reasonably priced opportunity to capitalize on a correction this Fall.As noted earlier, these ideas go against the grain when it comes to tech ETFs. In addition, the Nasdaq is going into a seasonally bullish period. Although, I don't usually trade hype like this, it is important to acknowledge that this is yet another reason why shorting this insane rally caries unusual risk. The methods discussed today use finite potential, so they are not reckless. There are dozens of other ways to approach tech ETFs today, but simple vertical put spreads are the easiest to explain and execute.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post 3 Tech ETFs to Short Along With Covid-19's Resurgence appeared first on InvestorPlace.
- Motley Fool
Micron Helps Power a New Wave of High-End Computing Amidst the COVID-19 Crisis
When Micron Technology (NASDAQ: MU) last provided a quarterly update at the end of March, question marks abounded. With cloud computing, 5G wireless network buildout, and a new generation of gaming consoles and personal computing devices on the way, Micron sees sunnier days ahead. Management had called for revenue of $4.6 billion to $5.2 billion, and adjusted earnings per share of $0.40 to $0.70 a few months ago.
