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Symbol MU
Name Micron Technology, Inc.
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State ID
City Boise
Zipcode 83716-9632
Website http://www.micron.com
UBS has lowered its price target for Micron (MU) to $125 from $135 while maintaining a Buy rating. The adjustment follows Micron's guidance, which fell short of expectations due to ongoing challenges in consumer markets. Despite this, UBS highlights positive aspects in the DRAM sector and views the current pullback as a buying opportunity, anticipating significant revenue growth ahead.
UBS has lowered its price target for Micron (MU) to $125 from $135 while maintaining a Buy rating. The firm noted that Micron's guidance fell short of expectations due to ongoing challenges in consumer markets, but highlighted positive prospects in the DRAM sector, viewing the current pullback as a buying opportunity.
U.S. stock futures are set to decline as investors await crucial inflation data that may influence interest rate decisions for 2025. The Dow Jones Industrial Average futures dropped 204 points, or 0.5%, following a modest rise that ended a 10-day losing streak. Meanwhile, S&P 500 and Nasdaq 100 futures fell by 0.7% and 1.1%, respectively.
The SMI is lower in pre-market trading as US stock markets close little changed following an interest rate shock, with Micron weighing on the Nasdaq. The Chinese central bank maintained key interest rates amid economic challenges, while the Shanghai stock exchange rose 0.5%. Geopolitical uncertainties and policy shocks are expected to influence markets significantly in 2025, as highlighted by TD Securities' James Rossiter. The Chinese economy faces a real estate crisis, compounded by potential tariffs from US President-elect Donald Trump.
Micron Technology, Inc. focuses on semiconductor development, manufacturing, and marketing, with a diverse product range including dynamic and flash memory. As of August 31, 2023, net sales are primarily driven by IT infrastructure (36.7%) and mobile devices (23.4%), with significant geographic distribution in the U.S. (50.2%) and Taiwan (17.4%). The company operates 11 production sites globally.
Micron Technology, Inc. focuses on designing, manufacturing, and marketing semiconductors, including dynamic and flash memory products. Its sales are primarily driven by IT infrastructure (36.7%), mobile devices (23.4%), and storage media (16.4%), with a global presence across 11 production sites. The company generates 50.2% of its sales in the United States, followed by Taiwan (17.4%) and China (14%).
The Dow Jones Industrial Average rose 15 points, breaking a 10-day losing streak, its worst in 50 years, while the S&P 500 and Nasdaq dipped amid a mixed market reaction following the Federal Reserve's reduced rate cut expectations. The Fed's outlook shifted from four to two cuts next year, impacting bond yields and cryptocurrency, with Bitcoin falling nearly 5% to $96,178. Analysts suggest stronger economic growth may challenge the Fed's projections, as markets now see a 66% chance of one or two more rate cuts next year.
Stocks opened strong but couldn't maintain gains after the Federal Reserve's hawkish rate cut, with the Dow Jones Industrial Average rising 0.04% to end its longest losing streak since 1974. GDP growth for Q3 was revised up to 3.1%, indicating robust domestic demand, while the 10-year Treasury yield climbed to 4.572%. Micron Technology's stock fell 16.2% after missing second-quarter guidance despite beating earnings estimates for Q1.
U.S. stocks rebounded modestly after a sharp selloff, driven by the Federal Reserve's forecasts of fewer interest rate cuts and rising inflation. Economic data supported the Fed's outlook, with jobless claims falling and Q3 GDP revised up to 3.1%. The Dow aimed to end a ten-session losing streak, while bank stocks rose as Treasury yields increased.
The Dow Jones Industrial Average attempted to recover from a significant 1,100-point drop, gaining 0.4% after a 2.6% decline. Micron's shares plummeted 17% following disappointing earnings guidance, while Nvidia rebounded 2.4% after five days of losses. Economic indicators showed a surprising 3.1% GDP growth and lower jobless claims, but market volatility persisted.
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