Dismissible Notices Handler Error: The library can not be used because your version of PHP is too old. You need version 5.5 at least.
WP Review Me Error: The library can not be used because your version of PHP is too old. You need version 5.5 at least.
Micron Technology Shares Under Pressure Ahead Of Earnings Report – Viral News

Micron Technology Shares Under Pressure Ahead Of Earnings Report

How to send text messages from your PC with Android Messages for web
How to send text messages from your PC with Android Messages for web
06/18/2018
7 Bollywood Actors Whose Recent Makeovers Prove The Beard Is Officially Dead
06/19/2018

Micron Technology Shares Under Pressure Ahead Of Earnings Report


Memory-chip maker Micron Technology (MU) has seen its stock pull back from its recent 18-year high as the company prepares to report fiscal third-quarter results after the market close on Wednesday.

X

Micron stock fell in four straight trading sessions last week. It dipped 0.4%, near 58, in midday trading on the stock market today. Shares hit their highest point since the dot-com bust of 2000 on May 30, reaching 64.66.

Wall Street expects the Boise, Idaho-based company to earn $3.12 a share, up 93% year over year, on sales of $7.75 billion, up 39%, for the quarter ended May 31. Micron raised its sales and earnings targets significantly on May 21, citing strong execution and healthy industry conditions.

Micron’s third-quarter report will offer a look at the health of the memory-chip business as well as end markets such as smartphones and data centers.

For the current quarter, analysts expect Micron to earn $3.19 a share, up 58%, on sales of $8.03 billion, up 31%.

Micron ranks No. 45 on the IBD 50 list of top-performing growth stocks.

Micron Technology Gets Price-Target Hike

Evercore ISI analyst C.J. Muse reiterated his outperform rating on Micron and raised his price target to 100 from 80.

Muse said he expects a “solid beat-and-raise” report from Micron. Investors are worried about cyclical concerns related to memory-chip production and sales, he said in a report Saturday.

“Bigger picture, we continue to believe in memory as critical to the rise of the new data-centric economy, where a virtuous cycle (data generation at the edge drives increased need for storage and analytics) increases the value of data,” he said. “At the same time, the few remaining memory players are committed to acting rationally and maximizing profit, rather than share.”

Nvidia To Benefit From Mass Surveillance

China’s adoption of mass, real-time facial-recognition technology and its potential to spread to other countries could provide a tailwind to earnings for graphics-chip maker Nvidia (NVDA), UBS said in a report Monday.

“We think mass facial recognition (and traffic monitoring) represents a $5 billion incremental total addressable market by 2020 for deep-learning silicon,” UBS analyst Timothy Arcuri said.

Arcuri raised his price target on Nvidia stock to 285 from 266, but maintained his neutral rating. Nvidia dipped 0.8%, near 263.10, in midday trading.

Nvidia could face stiff competition from field-programmable gate arrays for deep learning from Intel (INTC) and Xilinx (XLNX), he said. But Nvidia is likely to keep a high share of training accelerator sales, Arcuri said.

Elsewhere in the chip sector, Northland Securities on Monday downgraded Intel to underperform from market perform.

RELATED:

These Five Chip Stocks Are Near Buy Points

Chip Stocks To Watch And Semiconductor Industry News

Two Top Chip-Gear Stocks Hit With Downgrades While One Upgraded



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *