Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
Chipmaker Micron Beats Demand Estimates
June 29, 2023
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Chipmaker Micron Beats on Demand From Booming AI, Easing Glut
June 29, 2023
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Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
‘Old Friend’: Xi Jinping Meets Bill Gates in Beijing
Chinese leader Xi Jinping called Bill Gates “the first American friend I’ve met in Beijing this year.” The business magnate visited China and met with Xi on Friday. Just one day ahead of that meeting, the Gates Foundation pledged to pour millions into a Chinese medical research institute it helped establish years ago. Topics in…
China’s Pay Back to the US With Micron Ban Could Signal Decoupling From Both Sides: Expert
May 26, 2023
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China recently banned Micron chip sales to critical information infrastructure operators over cybersecurity issues. It came after the world economic power players showed their support for alternative and secure supply chains, and Micron announced its investment in Japan. China’s ban will only enhance the risk of foreign investors in China, and possibly force economic decoupling…
White House Condemns China for Micron Ban But Will Keep Communications Open
May 25, 2023
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The White House has condemned the Chinese regime for its ban on purchases of memory chips from the American company Micron on May 24, saying it’s retaliation over the recent G7 statement. However, the White House expressed that Beijing’s sanction won’t affect Washington’s efforts to improve communication with China. White House national security spokesperson John…
US Stocks Slide as Economic Data Stokes Rate Hike Worries
NEW YORK—Stocks closed broadly lower on Wall Street Thursday as stronger-than-expected reports on the U.S. economy stoked worries about interest rates staying high. The S&P 500 fell 1.4 percent after having been down as much as 2.9 percent earlier in the day. The pullback brings Wall Street’s main measure of health back to a loss of…
Micron to Build $100 Billion Computer Chip Plant in New York
October 4, 2022
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Micron will build a new $100 billion computer chip factory over the next two decades in upstate New York. The company will build the manufacturing facility at White Pine Commerce Park, in Clay, a suburb of Syracuse, N.Y. in Onondaga County. The project is expected to bring tens of thousands of jobs to the region,…
Here’s Why Citi Is Bullish on This Chipmaker
Citi analyst Christopher Danely reiterated the Buy rating and $120 price target on Micron Technology Inc. The price target implies an upside of 39 percent. Danely noted that dynamic random access memory pricing could be higher in the second half of the year. Danely added that PC demand remains “solid,” though some data center customers have held off on…
Pete Najarian Owns Micron Stock, Why He Also Bought Call Options
Micron Technology Inc. has surged higher since announcing better-than-expected quarterly results at the beginning of last week. What Happened Micron reported adjusted quarterly earnings of $2.16 per share, which beat the estimate of $2.11 per share. The company reported quarterly revenue of $7.69 billion, which beat the estimate of $7.67 billion. Micron said it expects adjusted…
Read How Analysts Reacted to Micron Post Q1 Earnings
Analysts hailed Micron Technology Inc.’s Q1 results and Q2 outlook by lifting their price targets on the stock. Micron reported Q1 revenue of $7.69 billion, up 33.2 percent year-on-year, above the consensus of $7.67 billion. Adjusted EPS of $2.16 beat the consensus of $2.11. Micron sees Q2 revenue of $7.3 billion–$7.7 billion above the consensus of $7.28 billion. It considers…
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