51.04 +0.12 (0.24%)
After hours: 7:58PM EDT
|Bid||51.02 x 900|
|Ask||51.04 x 1400|
|Day's range||50.48 - 51.43|
|52-week range||31.13 - 61.19|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||25.63|
|Earnings date||24 Sep 2020 - 28 Sep 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||64.32|
Micron Technology (NASDAQ: MU) and Taiwan Semiconductor Manufacturing (NYSE: TSM) are two crucial players in the semiconductor market. Micron is one of the world's top producers of DRAM and NAND memory chips, which are widely used in mobile devices, PCs, data centers, and other electronics.
Artificial intelligence (AI) is likewise an important but oft-misunderstood technology. Last month, I talked up Alphabet, salesforce.com, and NVIDIA (NASDAQ: NVDA). When talking about AI hardware, it's easy to default to NVIDIA.
5G is the new wireless standard that promises lightning-fast, low-latency wireless communications that will usher in a new era of futuristic technology applications. Three of the best-positioned 5G stocks that still trade at attractive valuations include wireless carrier T-Mobile (NASDAQ: TMUS), leading chip manufacturer Taiwan Semiconductor Manufacturing (NYSE: TSM), and memory chip giant Micron Technology (NASDAQ: MU), all of which look like solid 5G plays to add to your portfolio this summer. Probably not, which is why T-Mobile looks so compelling today.
Several of the semiconductor equipment company's big customers reported positive developments, bringing its shares up along with them.
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.
As you might know, Micron Technology, Inc. (NASDAQ:MU) just kicked off its latest third-quarter results with some very...
Memory cycles tend to follow a pattern. Despite COVID-19, Micron’s recent results point to an up-cycle that's just getting started.
Chipmakers are benefiting from the demand spike for cloud services, as increasing number of employees and students are now working and learning from home amid the coronavirus-led global lockdown.
The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite all moved higher as market participants ignored uncertainties related to the coronavirus pandemic and instead focused on the prospects for businesses to move forward and start growing again. Semiconductor stocks were among the strongest performers, helping to give the Nasdaq an outsized gain compared to its fellow major market benchmarks. Micron Technology (NASDAQ: MU) was the big winner on a solid earnings performance, but other stocks in the industry also managed to post good gains as well.
Memory chip manufacturer Micron Technology (NASDAQ: MU) beat analyst estimates across the board when it reported its fiscal third-quarter results on Monday afternoon. While the numbers looked good compared to the previous quarter and the prior-year period, Micron is still in a funk relative to 2018. A steep decline in memory chip prices is responsible for the lower revenue and profit.
What happened Shares of semiconductor company Micron Technology (NASDAQ: MU) popped a little higher today after the company beat Wall Street's expectations for the third quarter of its fiscal 2020.
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Micron's (MU) Q3 earnings benefit from stellar memory chip demand from data-center operators, as well as improved pricing for both DRAM and NAND.
(Bloomberg) -- Micron Technology Inc. and Xilinx Inc. gave strong sales forecasts, suggesting demand is recovering as parts of the global economy emerge from the pandemic lockdown. Shares of both chipmakers jumped in extended trading.Micron, the largest U.S. memory chipmaker, said revenue in the current period will be $5.75 to $6.25 billion, well ahead of Wall Street estimates.During a conference call, analysts voiced concerns about Micron customers potentially stockpiling chips. That could threaten future orders. However, the company said this year is different from 2019 when high customer inventories hammered sales.Micron makes memory chips for personal computers, and similar components that store data in smartphones. The Covid-19 pandemic has curbed demand for these devices, however the crisis has helped the company in other ways. With millions of people forced to work from home, online activity has surged and that has increased sales of Micron components for data center servers. The company’s factories have also shrugged off any pandemic disruptions.“First, we expect the data center outlook to remain healthy. Second, we expect smartphone and consumer end-unit sales to continue to improve,” Micron Chief Executive Officer Sanjay Mehrotra said.New video game consoles will also drive demand for Micron’s DRAM and NAND chips, he added, while noting that short-term visibility is limited due to the pandemic, trade tensions and macro-economic uncertainty.Micron’s stock rallied about 6% in extended trading on Monday. It earlier closed up 1.4% at $49.15. That left the shares down about 9% so far this year, compared with a 5% gain by the Philadelphia Semiconductor Index.The U.S. trade war with China and the Trump administration’s actions against Huawei Technologies Co. continue to add to uncertainty, Micron’s CEO said on the conference call with analysts. The U.S. tightened restrictions on supplying chips to Huawei last month and that is “impacting our opportunity in the near term,” Mehrotra said.Xilinx, which makes programmable chips for wireless networks, reported preliminary revenue of $720 million to $734 million for the fiscal first quarter. That was up from a previous forecast.Xilinx’s improved performance also reflects demand for components to handle rising online activity. The company is benefiting from investment to build new fifth generation, or 5G, wireless networks. Xilinx stock climbed more than 7% in extended trading.“While we have seen some Covid-19 related impacts during the June quarter, our business has generally performed well overall,” Victor Peng, Xilinx’s chief executive officer, said in a statement.In May, Micron raised its revenue guidance due to the boom in online data traffic. However, it also cautioned that overall demand was still weaker than at the beginning of the year and warned that the economy may deteriorate in the second half of 2020.In Micron’s fiscal-third quarter, net income was $803 million, or 71 cents a share, down from $840 million, or 74 cents a share, in the same period a year earlier. Revenue was $5.43 billion, a gain from a year ago. Wall Street was looking for earnings of 65 cents a share and sales of $5.3 billion.Some analysts see the virus lockdown helping Micron and its peers. Some chipmakers have struggled to get all the machinery they need to equip new production lines. That has slowed output gains and may limit supply while supporting prices, they argue.(Updates with comments from conference call in third 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.
Micron (MU) delivered earnings and revenue surprises of 5.13% and 2.19%, respectively, for the quarter ended May 2020. Do the numbers hold clues to what lies ahead for the stock?
The work-from-home boom has also driven demand for data center chips, with Micron, one of the biggest DRAM chip suppliers, working to sell more profitable solid-state storage drives rather than the raw NAND memory chips that go into the drives. Micron said it expects consumer demand for smartphones and other consumer electronics to fall below its initial expectations in the second half of 2020, but data center demand is strong enough that supply shortages are emerging.
Here we pick five stocks that present buying opportunities despite loss of value in the past week on strong fundamentals and prospects.
Investing.com - Our senior markets analyst Jesse Cohen gives us his top five things to know in financial markets on Monday, June 29, including:
It will be a shortened trading week with major markets closed Friday in observance of the Fourth of July holiday. Investors will be closely monitoring the recent resurgence in COVID-19 cases across a handful of states and the big June jobs report due out Thursday.
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(Bloomberg) -- The U.S. won arrest warrants for the former president of a China state-owned chipmaker and two other engineers charged with stealing secrets from Idaho-based Micron Technology Inc.The effort to apprehend the three men is notable because they were charged in 2018 in the first case filed under the Trump administration’s “China Initiative” targeting trade-secret theft, hacking and economic espionage. A federal magistrate judge in San Francisco issued the warrants Wednesday after the three men failed to show for their arraignments.While the prosecution of Fujian Jinhua Integrated Circuit Co. has hobbled China’s aspirations of mass producing memory chips, the case has crawled along, even as the Justice Department said the China Initiative would prioritize rapid action. The arraignments of the engineers were repeatedly postponed by agreement between the U.S. and their lawyers. Suddenly on Wednesday, in a three-minute hearing, a U.S. prosecutor requested the warrants, telling the judge she knew the defendants wouldn’t show up after talking to their lawyers Monday.“Their clients are not here for different reasons,” Assistant U.S. Attorney Laura Vartain Horn told the judge, without offering details. “The appropriate thing to do, and what the government requests, is a warrant for each of the individual defendants.”Fujian Jinhua has pleaded not guilty and said it’s eager to go to trial. Taiwan-based United Microelectronics Corp., or UMC, has also pleaded not guilty.After the Justice Department billed the matter as a banner prosecution under a special initiative, there may be “political pressure to do something about this case and chalk up a win,” said Calvin Lee, a white-collar criminal defense lawyer.Beyond appearances, the U.S. also has a responsibility to pursue the accused engineers, said Preston L. Pugh, a former prosecutor who works with Lee.Even if there’s no way for prosecutors to realistically get the men into a U.S. court, “they can’t lay down and not do anything about it,” he said. The Justice Department may be also be asking Taiwan to extradite the men “in return for the U.S. doing if not the same, some other gesture,” Pugh said.“This is not an off-the-shelf agreement, and not one that happens often but it has happened,” he added.The warrants were issued for former Fujian Jinhua president Chen Zhengkun, or Stephen Chen; He Jianting, or J.T. Ho; and Wang Yungming, or Kenny Wang. All three are Taiwanese nationals, and legal experts have said there’s little motivation for them to appear in a U.S. court. Neither China nor Taiwan has an extradition treaty with the U.S.Read More: Engineers Found Guilty of Stealing Micron Secrets for ChinaHo and Wang, who previously worked for Micron before moving to UMC, and a third UMC staffer were found guilty by a Taiwanese court two weeks ago of theft or assisting in the alleged theft of Micron’s secrets. The three men were sentenced to jail for periods ranging from 4 1/2 to 6 1/2 years and fined between NT$4 million and NT$6 million. The court also fined UMC NT$100 million ($3.4 million).UMC declined to comment. Fujian Jinhua spokesman Chad Kolton had no immediate comment.Mary McNamara, a lawyer for Chen, didn’t immediately respond to requests for comment. Vanessa Chuang, who represents Wang in Taiwan, declined to comment as she said she doesn’t represent Wang in the U.S. Of the three, only Ho is still working for UMC. A call to the law firm that was listed two years ago in the indictment as representing Ho wasn’t answered.In October 2018, a few days before the China Initiative was announced, the Commerce Department blocked sales of U.S. chip-making gear to Jinhua, grinding to a halt the company’s plans to produce semiconductors. China, by far the largest market for dynamic random access memory, or DRAM, has made its production a national priority so it can end its reliance on hundreds of billions of dollars of annual imports.From the criminal case, prosecutors stand to win an order requiring Jinhua and UMC to forfeit chips and income derived from technology allegedly stolen from Micron, as well as a ban on using Micron’s secrets for as long as five years.The case is U.S. v. United Microelectronics Corp., 18-cr-00465, U.S. District Court, Northern District of California (San Francisco).(Updates with comments by legal experts starting in sixth 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.
Micron (MU) closed the most recent trading day at $49.19, moving +1.86% from the previous trading session.
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