JUMP REPORT
MICRON TECHNOLOGIES (MU)
EARNINGS RELEASE - JUNE 29 (AMC)
EARNINGS EXPECTATIONS:
THIS QTR: EPS: .77/share REV: 5,310/M
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LAST QTR: EPS: .37/share ACTUAL: .45/share (BEAT)
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NEXT QTR: EPS: .81/share REV: 5,470/M
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FULL YR: EPS: 2.51/Share REV: 20,750/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD: 59% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 7.64, 4.24, -11.7
EXPECTED JUMP MOVE: 7-9%
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*** With market volatility at extremes there is greater risk in trading these events which may not react as they would under normal market conditions. Please take extra caution before trading.
Links To Latest News and Headlines
According to Morgan Stanley, a group of four tech giants (Microsoft, Amazon, Alphabet, and Meta Platforms) could spend a combined $300 billion building data center infrastructure for artificial intelligence (AI) development during 2025. Nvidia (NASDAQ: NVDA) owns a dominant share of the market for AI data center chips, so it could be one of the biggest beneficiaries of that spending. Developing AI models requires a substantial amount of computing power, and Nvidia’s graphics processors (GPUs) are the most popular chips for that purpose.
(Bloomberg) — Semiconductor equipment maker Grand Venture Technology Ltd. is trying to turn the world’s hunger for advanced memory chips into a chance to become a major supplier, as giants from Micron Technology Inc. to Infineon Technologies AG build new factories in Asia.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy
We recently published a list of 8 Best Machine Learning Stocks to Buy According to Hedge Funds. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against other best machine learning stocks to buy according to hedge funds. Earlier this month, the president of Potomac Wealth Advisors, […]
The Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped roughly 2% after new economic data showed easing inflation, a relief to investors that also led to a decline in Treasury yields. Shares of many artificial intelligence (AI) stocks moved higher on the news. Semiconductor company Micron Technology (NASDAQ: MU) traded 5.7% higher as of 12:12 p.m. ET.
The Biden administration has announced new export restrictions on AI chips, triggering a sell-off in semiconductor stocks. In a blog post made earlier this week, Nvidia (NVDA) called President Biden’s new export controls “misguided” as the outgoing administration attempts to limit semiconductor shipments to China. Moor Insights & Strategy Founder, CEO, and Chief Analyst Patrick Moorhead joins Morning Brief to discuss these regulations, calling them “unprecedented” and their impact on chipmakers as “pretty unclear” at this moment. Moorhead explains that the ruling applies to chips that are “purpose-built for AI or are designed for AI.” He points out that this could affect gaming chips despite their primary intended use. “You’re looking at 120 countries, many of them in the EU [European Union]… that now have limits on that,” he states, explaining that a government agency will oversee enforcement. “I can’t think of a worse thing for innovation and speed and revenue than having a traffic cop.” He maintains this is the “wrong answer” for US national security concerns. “A lot of companies aren’t going to have an issue because they have nothing to do with… AI clusters, but when you look at companies like Nvidia and AMD (AMD)… and even Intel (INTC), they’re going to have to get very clinical on exactly how many chips that they can ship into a certain country,” he explains, adding that even the EU has criticized the ruling as “a step in the wrong direction.” To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Angel Smith
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Avg Daily Volume: 443,239 Market Cap: 3.44B
Sector: Services Short Interest: 2.7
Ticker delayed 20 minutes
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