|Bid||106.40 x 100|
|Ask||106.96 x 100|
|Day's Range||103.43 - 106.96|
|52 Week Range||71.38 - 106.96|
|PE Ratio (TTM)||82.97|
|Earnings Date||Apr 25, 2018 - Apr 30, 2018|
|Forward Dividend & Yield||2.00 (1.94%)|
|1y Target Est||113.89|
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.
Fears of an oversupply and price wars in the chip-storage market have softened, lifting the stocks of Western Digital, Micron, Smart Global Holdings and others.
Tristan Gerra with R.W. Baird is having a serious bullish day with NAND flash today, not only raising his price target on memory chip maker Micron Technology (MU), but also raising his rating on shares of its NAND competitor, Western Digital (WDC), to Outperform from Neutral. Gerra observes pricing has held up better than expected for NAND: NAND pricing declines are more muted than supply chain expectations entering the quarter, with contract pricing expected to decline 3-4% in C1Q QoQ, and down in a higher single-digit range in C2Q, also better than seasonal. -We now expect NAND contract pricing to decline 15-20% in C2018, less than our initial expectation, and now within the range of Western Digital's targeted production cost reductions. He thinks two things happen next: supply may become tighter the second half of this year, relative to demand, and that may help to boost margins for Western.
Many of Wall Street's favorite high-tech growth companies are trading with stretched valuations, but memory firms like Micron (MU) and Western Digital (WDC) seem to present investors with incredible value opportunities.