Micron Technology Inc. (MU) Social Stream
Featured Post From StockTwits About MU
$MU LT holder here, traded around a core position since 2009. I had lightened up when it couldn't hold $90s in April, but here's a chart that shows why I'm buying back ahead of eps. Note management has already said it's a good Q, and the outlook is robust. But the 2-year chart shows we've dropped back to an uptrend which has been in place since Aug 2020, and the daily stochastic has tickled a "buy" from deeply oversold levels. See you in the mid $90s at least by July expiration. If guidance is as good as I think, could break through to the $100s. Glta longs!StankyPigano, published June 16, 2021
Other Notable StockTweets About MU
$MU At the JPMorgan Tech Conference this month, management reiterated the fact that it sees strong demand in data center, mobile, PC, auto, and industrial end markets. We knew we’d see strong demand for memory as major trends like 5G, artificial intelligence and machine learning took off. These new technologies require a tremendous amount of memory and with Micron operating at max production, we’ll see an amazing earnings report at the end of June. The company already said revenues would come in at or above the high end of its prior guidance. That puts revenues at $7.3 billion vs. the consensus of $7.1 billion this quarter.Shark76, published June 10, 2021
$MU FD: Initiated a position yesterday https://stocktwits.com/Ro_Patel/message/334446382 & added today as IV expanded during JPM Conference.
What spooked the tape??
Likely b/c the 3Q21 Rev guide was not adj'd but simply qualified as "come in at or higher than the prior forecast of $6.9B-$7.3B". Analyst est is for $7.1B.
Micron has beat on EPS & Revs over the past 8 consecutive quarters. A 3Q21 Rev of $7.10B implies a 30.5% y/y increase.
CEO also qualified a lack of bit ship volume expansion due to covid in India, in particular.
Likely 1 time issue - secular growth in industry in both DRAM & NAND - prices are increasing.
Solid bal sheet...and no...Micron is not going bankrupt!
Total Cash: $8.57B
Total Debt: $6.298B
In top 20 of US co.s filing for US patents in FY20 (ahead of Facebook & Boeing)
Hosted Fed & local officals yesterday - https://www.cnbc.com/video/2021/05/24/micron-ceo-sanjay-mehrotra-on-global-semiconductor-shortage.html
H.R.7178 & S.3933 CHIPS for America Act introduced in Congress & Senate. Biden Admin calls for $50B to boost semi production & research.