Technology

Micron’s Q3 Earnings: 8 Analysts Optimistic About AI Growth, Predict Success In Advanced Memory Technology

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Micron Technology Inc (NASDAQ:MU) released its Q3 2024 earnings after the market close on June 26, reporting better-than-expected revenue of $6.81 billion and earnings per share of 62 cents, surpassing estimates. Despite this, the stock traded lower on Thursday due to lackluster top-line guidance, affecting not only Micron but also Advanced Micro Devices, Inc (NASDAQ:AMD) shares in sympathy. Here’s how 8 analysts covering Micron stock reacted to the report: BofA Securities Sees Potential Share Gains With Micron Stock Analyst Vivek Arya reiterated a Buy with a price target of $170, implying a 19.4% upside. Arya sees the company as a “key AI beneficiary in both data center and edge.” He recognizes Micron as the “last remaining pure-play U.S.-based memory company” and sees it benefitting from trends in data centers, cloud computing and 5G. As memory pricing improves, Arya sees Micron emerging from the memory cycle trough and foresees potential share […]

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Micron Q3 Earnings: Revenue Beat, EPS Beat, Q4 Earnings Guidance, ‘Expanding AI-Driven Opportunities Ahead’ And More

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Micron Technology Inc (NASDAQ:MU) reported financial results for the third quarter after the market close on Wednesday. Here’s a rundown of the report. Micron Q3 Earnings: Micron reported third-quarter revenue of $6.81 billion, beating the consensus estimate of $6.634 billion. The company reported adjusted earnings of 62 cents per share, beating analyst estimates of 49 cents per share. Operating cash flow came in at $2.48 billion versus $1.22 billion in the prior quarter and $24 million in the comparable quarter last year. Adjusted free cash flow was $425 million in the quarter. The company ended the quarter with $9.22 billion in cash, marketable securities and restricted cash. “Robust AI demand and strong execution enabled Micron to drive 17% sequential revenue growth, exceeding our guidance range in fiscal Q3,” said Sanjay Mehrotra, president and CEO of Micron. “We are gaining share in high-margin products like High Bandwidth Memory (HBM), and our data center SSD revenue

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Micron Technology Sees Revenue Record in FY25

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Micron Technology expects to post record revenue in fiscal 2025. The memory-chip maker in prepared markets for its 3Q earnings call says demand for AI personal computers and AI smartphones and the continued growth of AI in the data center offer a favorable setup. CEO Sanjay Mehrotra says it can deliver in fiscal 2025 with improved profitability underpinned by its portfolio’s ongoing shift to higher-margin products. Shares slip 5% to $135.42 in afterhours trading on 4Q guidance fails to dazzle Wall Street.

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Micron Q3 Earnings Preview: AI In Focus, Analyst Says

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Semiconductor company Micron Technology(NASDAQ:MU) is set to report third-quarter financial results after market close Wednesday. Here are the earnings estimates, what analysts are saying and key items to watch. Earnings Estimates: Analysts expect Micron to report third-quarter revenue of $6.63 billion. The revenue estimate would be an improvement from $3.75 billion reported in last year’s third quarter. Micron has beaten analysts’ revenue estimates in four straight quarters and seven of the last 10 quarters overall. Analysts expect Micron to report third-quarter earnings per share of 49 cents, compared to a loss of $1.43 in last year’s third quarter. The company has beaten earnings estimates in four straight quarters and eight of the last 10 quarters. Company guidance calls for third-quarter revenue to be $6.6 billion, plus of minus $200 million and earnings per share to be 38 cents to 52 cents according to estimates given during the second quarter.

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Broadcom Shifts to Growth Stock on Boost From AI, VMWare, BofA Says

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Broadcom (AVGO) is a top pick on a shift to a growth stock from a value stock, mostly because of boosts from artificial intelligence and VMWare, BofA Securities said Monday in a report. Compound annual growth in 2024 to 2026 may accelerate to 13% from 5% to 10% normalized in the traditional business from 2017 to 2023, driven by AI silicon and VMWare compound annual growth at 24%, BofA said. Cost savings from VMWare and a strong balance sheet might boost margins to 61%, increasing earnings by 20% annually, the report said. Broadcom’s earnings per share in 2026 may reach $69, while faster sales at 15% to 17% annually with a metric on margins up to 65% to 67% may drive EPS to $80 per share, the report said. “There is also the potential for further mergers and acquisitions next year, as gross leverage remains low” and the company “continues

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Nvidia Is No Cisco, but It Is Getting Expensive — Heard on the Street

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Is a great business worth any price? Nvidia investors finally seem to be asking themselves that question. The chip maker powering the artificial-intelligence revolution blew past $3 trillion in market capitalization earlier this month barely three months after passing $2 trillion. It even became the world’s most valuable company earlier this week, briefly surpassing Microsoft and Apple. That seems to have given investors some pause; Nvidia’s share price has slipped nearly 7% since trading resumed after the Juneteenth holiday. Still, with a value of a little over $3.1 trillion as of Friday’s close, Nvidia is hardly cheap. That is merely 2% below that of Apple, a company with more than 2 1/2 times Nvidia’s trailing 12-month free cash flow. The stock is also now at nearly 45 times projected earnings for the next four quarters. That is 11% above its five-year average multiple and about 35% higher than what the

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Micron Technology’s Fiscal Q3 Likely to Beat Expectations, Wedbush Says

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Micron Technology’s (MU) fiscal Q3 results, slated for release on June 26, will likely beat expectations on higher sales of computer memory, Wedbush Securities said Tuesday in a note to clients. “We believe memory ASP gains were significantly ahead of expectations embedded in [Micron’s] guide,” the firm said. “And, we believe that [Micron] will outperform peers on a healthy mix shift towards eSSDs and DDR5.” Wedbush said it increased its revenue and EPS estimates for Micron’s fiscal Q3 to $6.93 billion and $0.64, above the high end of the company’s previous guide of $6.6 billion, give or take $200 million, and 0.45, plus or minus $0.07, respectively. The brokerage’s updated estimates are also ahead of average consensus of $6.64 billion and $0.50, respectively. The firm lifted Micron’s price target to $170 from $130 and maintained its outperform rating. The company’s shares were up 4% in recent trading.

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CFRA Maintains Buy Opinion On Shares Of Qualcomm Incorporated

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We boost our 12-month target to $260 from $200 on a revised P/E of 22.2x our CY 25 EPS view of $11.68, within peers but above historical. We raise our FY 24 (Sep.) EPS to $10.00 from $9.92, lift FY 25’s to $11.28 from $10.91, and set FY 26’s at $12.75. We think QCOM is poised to be a major beneficiary of the ongoing shift of AI toward the device level over the next 12 months, potentially driving significant upside to our estimates. On the smartphone side, we see a better-than-expected iPhone 16 refresh cycle, content gains in future Samsung devices, and improving trends from China providers all supporting higher growth. In addition, we like QCOM’s growing addressable market opportunity, as Windows-based AI PCs gain traction with QCOM’s NPUs (QCOM previously had no share in PCs) and new IoT/industrial uses emerge over time. Not to be forgotten, we are also

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Nvidia Gains. AI Chip Maker Already Tops Analyst Forecasts After Stock Split. — Barrons.com

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By Adam Clark Nvidia stock was rising early on Friday to finish its first week following its stock split on a positive note. The chip maker has risen ahead of Wall Street’s consensus targets for the stock. Nvidia shares were up 1.5% at $131.57 in premarket trading. The stock closed up 3.5% on Thursday. Nvidia’s 10-for-1 stock split took effect a week ago and the stock is now ahead of Wall Street’s average price target of $123.35, according to FactSet. Nvidia’s strong rally has seen it outpace analysts’ expectations on multiple occasions during the AI rally. The company’s forward price-to-earnings multiple currently stands at around 43 times. That’s not putting off the bulls. Oppenheimer’s Rick Schafer reiterated a $150 price target on the stock in a research note this week, based on a price-to-earnings multiple of 36 times Nvidia’s forecast earnings in 2026. “We see several structural tailwinds driving sustained

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Nvidia Set for Over 20% Weighting in SPFR ETF, Apple to Drop Significantly

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Nvidia’s (NVDA) weighting in the index that the Technology Select Sector SPDR (XLK) exchange-traded fund follows will likely increase to around 21%, displacing Apple (AAPL) as the second top pick next to Microsoft (MSFT), CNBC reported Monday. Apple’s weighting will drop significantly to 4.5% from about 22% while Nvidia is set to rise sharply from just 6% amid Nvidia shares’ outperformance this year, the report said, citing Matthew Bartolini, head of SPDR Americas Research. The major technology ETF will be forced to acquire more than $10 billion worth of Nvidia shares while cutting back dramatically on Apple, the report said. SPDR does not comment on specific trading strategies around rebalances, the report said.

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TSMC Can Maintain Revenue Strength Through 2026, Citi Says

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TSMC should see promising surging demand from cloud and edge AI, which will likely drive revenue growth through 2026, Citi research analyst Laura Chen writes in a note. TSMC should be able to reflect its value to customers and it may adjust prices for products given rising demand, Chen says. Given stronger revenue growth, capex intensity should also continue trending downwards, though TSMC will likely lift the range of capex expected in 2024 to US$30 billion-US$32 billion from US$28 billion-US$32 billion, given escalating advanced node demand, Chen adds. Citi raises its target price on the stock to NT$1,150 from NT$1,030 while reiterating its buy rating. Shares closed 0.1% lower at NT$921.00.

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Microsoft Stock Price Target Raised. Why the AI Party Is Just Getting Started. — Barrons.com

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By Brian Swint Microsoft, one of the three biggest companies by market capitalization, is only just starting to reap the benefits of artificial intelligence. That’s the view of analysts at Wedbush led by Dan Ives, who raised their price target to $550 from $500 in a note published Sunday and maintained an Outperform rating. While Ives is known for his bullish views on technology stocks, the analysts have based their stance on research conducted with Microsoft customers for insight into their future spending plans. “The stock still has yet to price in what we view as the next wave of cloud and AI growth coming to the Redmond story with a strong competitive cloud edge vs. Amazon especially and Google,” said Wedbush. “It has become crystal clear to us that the monetization opportunities around deploying AI and ChatGPT in the cloud is a transformational opportunity.” Microsoft mainly uses AI in

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