Micron Technology Inc. ($MU) reported Q1 earnings, with revenue of $4.73 billion, surpassing estimates. The company also announced a strong revenue forecast for the current period, driven by data center demand compensating for sluggish orders from PC and smartphone customers. Micron's stock surged post-earnings, and Wall Street sees a 20% upside. The company's CEO, Sanjay Mehrotra, expressed confidence in continued demand growth, particularly in Generative AI. Micron's positive forecast led to a rise in shares of chipmakers such as NVIDIA, AMD, Qualcomm, and Intel in premarket trading.
Micron shares surge post earnings on the back of higher prices. It’s our #ChartoftheDay. The Investment Committee debates the bet on chips with our very own @KristinaParts. $MU $NVDA https://t.co/FMjR21rYYi
$MU | Micron Technology Guidance Reflects Strong Pricing Rebound: 10 Analysts Deep Dive Into Q1 Earnings https://t.co/A110VvoyHq
$MU CEO Sanjay Mehrotra tells @JimCramer that he expects demand to continue to grow. "This is not a one-quarter phenomenon" https://t.co/l9mnXHd5De
After reporting a Q2 earnings beat, $MU CEO Sanjay Mehrotra joins the show to discuss Generative AI demand and the outlook for the company. https://t.co/qvogsEzrog
Updated numbers: $MU: 🟢6% $AMD: 🟢2% $MARA: 🟢6% $HUT: 🟢6% $RIOT: 🟢2% $CLSK: 🟢5% $LTHM: Even #stocks #options #trading https://t.co/hT2RTTJq0k
$MU forecasts better chip demand in 2024. Stock jumps. Commentary: Seems like executives are doing a little window dressing into year end, trying to give the stock a boost. The amount of times an end of year forecast has been correct....not a great history. $SMH $NVDA $AMD
$NVDA $AMD $QCOM $INTC 🔸 SHARES OF CHIPMAKERS RISE AFTER PEER MICRON TECHNOLOGY FORECASTS Q2 REV ABOVE ESTIMATES 🔸 NVIDIA SHARES UP 1.6%, ADVANCED MICRO DEVICES SHARES GAIN 1.7%, QUALCOMM SHARES UP 0.5%, INTEL SHARES UP 1%
Micron shares jump on forecast for quicker recovery in chip demand https://t.co/DFc24HIlRP https://t.co/n42Y39LX8M
Wall Street calls Micron earnings an 'early Christmas present,' Goldman sees 20% upside https://t.co/eZZDqziGns
$KMX Earnings: - Net revenues were $6.1 billion, down 5.5% compared with the prior year third quarter. - Net earnings per diluted share of $0.52 versus $0.24 a year ago. - Retail used unit sales decreased 2.9% and comparable store used unit sales declined 4.1% from the prior… https://t.co/toYe8n34o2
Hard to make longer term predictions in this space but $mu feels like a stock that will consistently be over $100 for majority of next 18 months.
Micron Gives Strong Forecast After Data Center Demand Grows https://t.co/TKZRdGlUH3
$MU $NVDA $AMD $QCOM $INTC 🔸 SHARES OF CHIPMAKERS RISE PREMARKET AFTER PEER MICRON TECHNOLOGY FORECASTS Q2 REV ABOVE ESTIMATES 🔸 NVIDIA SHARES UP 1.3%, ADVANCED MICRO DEVICES UP 0.9%, QUALCOMM UP 1.1%, INTEL UP 0.9% PREMARKET
Micron’s AI Potential Has Wall Street Buzzing. The Stock Rises. https://t.co/GjRvwtssVt
$MU is at a “very early stage” of growth driven by generative AI. @KristinaParts reports. https://t.co/0UCcRwPJ8P
$MU "showed that it's executing well, burning off inventory not only in customers but also inside of their own manufacturing facilities," Moor Insights & Strategy CEO @PatrickMoorhead says on the semiconductor manufacturing company's Q1 earnings. https://t.co/ZxJEMzDVDC
Micron gave a strong revenue forecast for the current period, indicating that data center demand helped make up for sluggish orders from PC and smartphone customers https://t.co/4gkzBbg8o1
$MU Earnings: - Adj. Rev. $4.73B (Est. $4.54B) - Adj. Oper Loss $955M (Est. Loss $1.05B) https://t.co/E9SOE2vkCK
$MU Earnings: - Revenue of $4.73 billion versus $4.01 billion for the prior quarter and $4.09 billion for the same period last year - GAAP net loss of $1.23 billion, or $1.12 per diluted share - Non-GAAP net loss of $1.05 billion, or $0.95 per diluted share - Operating cash flow… https://t.co/vnsIxshqpE
💰 Micron $MU EPS. vs Forecast -0.95 / -1.01 🟢 Rev. vs Forecast 4.73B / 4.55B 🟢 Market Cap: 87.21B
Micron $MU reports after the close. Options have about 5% expected move. (About $4 in either direction) That's about mid of the recent report moves of +4.4%, -4.1%, +7.2% and -3.4%. more here: https://t.co/myYW5kEhXT https://t.co/XE3JUKBTqA