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Micron Technology (MU) Stock Drops 16%Micron Technology (MU) Stock Drops 16% On Wednesday, Micron Technology released its quarterly earnings report after the main trading session closed. The results aligned closely with analysts' expectations: earnings per share came in at $1.79, slightly above the forecast of $1.76, while revenue met projections at $8.71 billion. Despite meeting estimates, the chipmaker issued a disappointing forecast for the next quarter, citing weak demand for personal computers (PCs) and smartphones. This overshadowed positive projections for the growth of the artificial intelligence (AI) chip market. Morningstar analyst William Kerwin warned of a potential "significant decline" in revenue from chips used in smartphones and PCs in 2025, driven by challenging market conditions. As a result, Micron Technology's stock opened Thursday's session with a significant bearish gap and continued to slide throughout the day, closing 16% lower than Wednesday's closing price. The chart of Micron Technology shares reveals bearish signals, as the price has broken below the support line of the long-term upward channel defined by key reversal points. Currently, the stock is hovering around the $85.50 support level, which successfully halted the bearish momentum in August and September. However, with market sentiment dampened by Jerome Powell’s cautious comments about the pace of rate cuts in 2025, MU shares may face further downside. If this happens, the downward channel (highlighted in red) could become the dominant trend. Analysts remain optimistic despite recent developments. According to TipRanks: → 23 out of 24 analysts recommend buying MU stock. → The average 12-month price target is $153.05. That said, if the stock continues to deviate from the blue upward channel, analysts may adjust their price targets downwards to reflect the changing outlook. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:MU
by FXOpen
2
Micron ($MU) is Poised for Action – Here’s What’s ComingMicron is sitting at a major decision point, and the next move could be big. Here’s the game plan: If we drop below $84: Things could get bumpy, with possible corrections to $74, $70, or even $63–$64. If we break above $93: The sky’s the limit, with targets at $100, $110, and maybe even $138 on the horizon. This is one to watch closely. Big moves are coming, so stay sharp and ready to ride the wave! Kris/Mindbloome Exchange Trade What You See
NASDAQ:MU
by Mindbloome-Trading
Micron Technology - This Stock Will Double Soon!Micron Technology ( NASDAQ:MU ) is retesting massive support: Click chart above to see the detailed analysis👆🏻 After we saw a test of the resistance trendline on Micron Technology a couple of months ago, it was quite likely that we will eventually retest the previous all time high. This structure is now acting as massive support and together with the rising trendline, we will see a bullish rejection. Levels to watch: $90, $180 Keep your long term vision, Philip (BasicTrading)
NASDAQ:MULong
by basictradingtv
15
Micron (MU) is Heating Up! Breakout at $114.52 and Soar UP Key Levels to Watch: Breakout Level: $114.52 Retracement Target: $122 Major Resistance Levels: First Target: $140 Final Target: $170 What to Expect: If MU can break and close above $114.52, we could see a retracement to $122, creating a solid base for the next leg up. Once it clears $140, the path to $170 becomes much clearer. This level will be critical for the bulls, and if it’s breached, MU could be in for an exciting run! Kris/ Mindbloome Exchange Trade What You See
NASDAQ:MULong
by Mindbloome-Trading
MY MU Micron Technology LONG IDEA 25/11/2024So it is very important for me to state that this is a very risky entry. It is Thanks giving and there is low volume out there. There is a chance that this trade may not work out and I might get stopped out but if my strategy applies to this chart then I will take the opportunity. So why did I take this trade? I love diversifying my portfolio and discover many different options to invest my capital in. Best place to find an asset that matches my criteria of trading which catching a trend is in stocks. I went to the trading view stock screener and selected the "Healthy Growth Technology Stocks" and in that list I found many different assets that are interesting and one of them happened to be MU. What is Micron Technology? Is a stock that engages in Memory and storage solutions. "Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Embedded Business Unit (EBU), and Storage Business Unit (SBU). The CNBU segment includes memory products and solutions sold into client, cloud server, enterprise, graphics, and networking markets. The MBU segment is involved in memory and storage products sold into smartphone and other mobile-device markets. The EBU segment focuses on memory and storage products sold into automotive, industrial, and consumer Markets. The SBU segment consists of SSDs and component-level solutions sold into enterprise and cloud, client, and consumer storage markets. The company was founded by Ward D. Parkinson, Joseph Leon Parkinson, Dennis Wilson, and Doug Pitman on October 5, 1978 and is headquartered in Boise, ID." What is the market condition? 1. The recent geopolitical easing situation in the middle east has decreased the fear sentiment of the market and I believe investors are more attracted to other assets such as stocks. 2. Trump trade brings in a lot of confidence to the stock market especially in the tech sector. Why is that? Trump's strategy is to focus on modernity and the key here is Elon Musk who is the owner of TSLA. This brings more confidence to the market of technology and crypto. So I believe with the involvement of Trump, Elon, Crypto, AI, and Cloud services etc are all good signs for MU to go long. 3. We may have a FED Rate Pause by December and I think if they decide to pause the rate cut then that's a good signal that inflation is cooling and the economy is in good condition. What are my technical analysis? 1. The price went above the 200EMA line which is a very important criteria for my trades. 2. RSI is above 50 showing a sign for growth in this Price Action. 3. Price bounced off of the S1 level recently and is now at the pivotal zone. This is not the best condition but pivots are not bad either. 4. Price action is nearing a trendline that might get broken signaling a more bullish sign.
VANTAGE:MULong
by stingotho
Micron Technology (MU) Shares Surge by Approximately 15%Micron Technology (MU) Shares Surge by Approximately 15% The US stock market is experiencing positive momentum following the much-anticipated decision by the Federal Reserve to cut interest rates this month. The S&P 500 (US SPX 500 mini on FXOpen) closed at a new all-time high, driven by yesterday's news of: → Steady US GDP growth at 3% annually → Low unemployment, with 218K jobless claims filed last week (forecast = 224K, previous = 222K). One of the top performers on the stock market yesterday was memory chip maker Micron Technology (MU). As seen on the MU stock chart, yesterday's candle closed around the $110 level, up from below $95 at the start of the week. The strong bullish momentum was driven by Micron Technology's quarterly earnings report. According to Barron’s: → Earnings per share reached $1.18 for the fourth fiscal quarter, beating analysts’ forecasts of $1.11; → Revenue grew by 93% year-on-year to $7.75 billion; → Micron Technologies expects revenue next quarter to be $8.7 billion, surpassing forecasts of $8.3 billion and significantly more than $4.73 billion for the same period last year; → Micron Technologies' CEO Sanjay Mehrotra stated that demand for AI "drove a strong ramp of our data-center DRAM products and our industry-leading high-bandwidth memory." Technical analysis of the MU stock chart shows that the price is moving within an upward channel (marked in blue). Key points include: → In early September, a Rounding Bottom pattern formed near the lower boundary of the channel – a bullish sign; → In yesterday's broad bullish gap, the price exceeded the key $109 level, which previously acted as both support and resistance (indicated by arrows). Bearish Outlook for MU Shares: Supply forces may emerge around the $109 level, forming a false bullish breakout, with the possibility of testing the psychological level of $100. Bullish Outlook for MU Shares: Strong company fundamentals and a bullish stock market could drive MU shares towards the median of the upward channel. According to TipRanks, Wall Street analysts forecast an average target price for MU shares of around $150 over the next 12 months. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:MU
by FXOpen
1
Micron Technology - The perfect chart!NASDAQ:MU is one of these stocks, which just respects every level, cycle and structure. If I would give each chart an individual rating, the chart of Micron Technology would be 10 out of 10. Micron Technology is actually respecting every structure level and providing textbook trading opportunities. If we get a retest of the previous all time high, which is now turned support and perfectly lining up with the support of the rising channel, I will certainly look for longs. Levels to watch: $90 Keep your long term vision, Philip - BasicTrading
NASDAQ:MULong
by basictradingtv
37
Micron Stock Soars 15% on Robust AI Demand and Strong OutlookMicron Technology (NASDAQ: NASDAQ:MU ) has made waves in the market following its fiscal fourth-quarter earnings, signaling a powerful comeback driven by robust demand in the AI sector. As a major supplier of memory chips, especially for Nvidia, Micron's performance not only beat Wall Street expectations but also positioned the company to achieve record-breaking revenue in the upcoming quarter. Shares surged more than 15% in premarket trading as global chip stocks rallied in response to the earnings report. AI Fuels Micron's Impressive Growth Micron's fourth-quarter revenue skyrocketed, reaching $7.75 billion, a nearly twofold increase compared to the same period last year. This growth can be directly attributed to the soaring demand for AI-driven technologies. The company swung to a profit of $887 million, or $0.79 per share, a stark contrast to last year’s $1.43 billion loss. The results exceeded analysts’ estimates, signaling a strong foothold in the AI market. CEO Sanjay Mehrotra confirmed that the surge in demand is primarily from the AI sector, propelling Micron into fiscal 2025 with the "best competitive positioning in the company’s history." Looking ahead, the company expects first-quarter revenue to land between $8.5 billion and $8.9 billion, surpassing analyst expectations. The projected earnings per share (EPS) for Q1 between $1.46 and $1.62 also highlights Micron's potential to sustain this impressive growth trajectory. Micron’s partnerships with AI giants like Nvidia, alongside the launch of its HBM (High Bandwidth Memory) chips, have been pivotal. These memory chips are essential for AI data centers and machine learning processes, further cementing Micron's role in the future of AI technologies. Notably, the company reiterated that its HBM chips are sold out through 2024 and 2025, showcasing the robust demand and limited supply of key memory components. Global Chip Rally: Micron’s Surge Sparks Global Optimism Micron's stellar results sent ripples through the global semiconductor market. Shares of rival firms Samsung Electronics and SK Hynix rose sharply in South Korea, with gains of over 4% and 9%, respectively. SK Hynix further boosted market confidence by announcing the mass production of its own HBM chips, designed for AI applications. The positive outlook extended to Europe as well, where Dutch semiconductor equipment maker ASML saw shares jump 4%, along with other industry players like Be Semiconductor and STMicro. This surge highlights that Micron's strong earnings report is not just a victory for the company but also a signal of sustained AI demand, driving optimism across the semiconductor space. Technical Outlook: (NASDAQ: NASDAQ:MU ) Breaks Through Key Levels On the technical front, Micron's stock is showing strong bullish momentum. In premarket trading, NASDAQ:MU is up 15.44%, pushing it above its recent resistance levels and one-month high. The stock has now crossed its support pivot, positioning it to target the next significant resistance level around $130. The Relative Strength Index (RSI) indicates that NASDAQ:MU still has room to run, as it remains neither overbought nor oversold. The daily price chart is also signaling a gap-up pattern, which is a key bullish reversal indicator. This pattern suggests that NASDAQ:MU may have successfully transitioned out of its recent downtrend, with the potential for further gains as the stock forms a more balanced and sustained upward trajectory. Moreover, the stock's strong earnings report and upbeat future guidance provide fundamental backing for this technical breakout. As NASDAQ:MU breaks through these key levels, it opens the door for a sustained rally, especially with the AI demand narrative continuing to dominate the semiconductor sector. Micron Poised for a Bull Run Micron Technology's robust earnings, driven by its crucial role in the AI supply chain, have propelled the stock to new heights. Micron Technology (NASDAQ: NASDAQ:MU ) is poised for continued growth, especially as AI demand shows no signs of slowing down. With a record-breaking revenue forecast for the current quarter and strong technical signals pointing toward further gains, investors can look forward to a promising future for Micron in the booming AI era. As the AI revolution continues, Micron's positioning as a key supplier of memory chips for AI applications will likely drive sustained growth, making NASDAQ:MU a stock to watch closely in the coming months.
NASDAQ:MULong
by DEXWireNews
6
What Lies Beyond the Horizon of Memory?In the ever-evolving landscape of technology, the horizon of memory has been pushed back further than ever before. Micron Technology, a pioneering force in the semiconductor industry, has once again redefined the boundaries of what is possible. Their recent financial performance, driven by the surging demand for AI-powered memory solutions, is a testament to their unwavering commitment to innovation. Micron's Q4 results were nothing short of extraordinary. Revenue soared by an astonishing 93%, fueled by the insatiable appetite for data center memory chips that power AI applications. The company's strategic positioning as a leading supplier of High-Bandwidth Memory (HBM) has proved to be a masterstroke. HBM, a critical component in AI servers, has become a cornerstone of Micron's success, securing long-term contracts and commanding premium pricing. Beyond HBM, Micron's diversified memory portfolio ensures a sustainable growth trajectory. The company's dominance in DRAM and Nand flash memory, essential components for personal computers, servers, and smartphones, positions it to capitalize on the ongoing surge in device shipments and the increasing integration of AI functionalities. Micron's competitive edge is further solidified by its strategic investments in capacity expansion, including a new fabrication site in New York. This expansion not only reinforces Micron's position as a leader in the memory chip industry but also paves the way for future innovation and growth. As the AI revolution continues to unfold, Micron's unwavering commitment to pushing the boundaries of memory technology remains steadfast. Their ability to anticipate and address the evolving needs of the market has positioned them as a key player in shaping the future of AI and beyond. The question that lingers is: what lies beyond the horizon of memory?
NASDAQ:MULong
by signalmastermind
4
What You Need to Know Ahead of Micron Technology Earnings ReportMicron Technology Inc. (NASDAQ: NASDAQ:MU ) is set to release its fiscal fourth-quarter earnings report after market close today, Wednesday, September 25, 2024. Investors are eagerly anticipating this report, as it could provide crucial insights into the state of the memory chip industry and the broader tech sector. Key Takeaways: - Analysts expect Micron (NASDAQ: NASDAQ:MU ) to swing to a profit this quarter, with year-over-year revenue expected to almost double. - Key metrics to watch include inventory levels and guidance for the next quarter. - Micron's relationship with Nvidia ( NASDAQ:NVDA ) and its role in the AI hardware space is expected to be a central focus. Earnings Expectations: For Q4 2024, analysts are forecasting revenue of $7.65 billion, a substantial jump from the $4.01 billion reported in Q4 2023. This rise is largely driven by the growth of Micron’s memory chips used in AI data centers and high-performance computing systems. Earnings per share (EPS) are expected to come in at 84 cents, a significant improvement from last year’s loss of $1.31 per share. 1. Revenue Growth: Micron (NASDAQ: NASDAQ:MU ) is expected to post significant year-over-year revenue growth, fueled by strong demand for AI-related memory chips. The company's partnership with Nvidia has been a key driver in this sector, as high-bandwidth memory (HBM) used in AI data centers continues to see robust demand. Analysts believe Micron’s growth trajectory will be further accelerated by the ongoing AI boom. 2. Profitability: After reporting losses last year, Micron (NASDAQ: NASDAQ:MU ) is anticipated to return to profitability with net income of $1 billion for the quarter. This marks a major turnaround, thanks to increased demand for high-performance memory and storage solutions used in AI, edge computing, and data centers. 3. Inventory Levels: One key area to watch will be Micron’s inventory levels. The company has been dealing with growing inventories as demand for legacy memory chips has waned. Both Citi and Morgan Stanley recently lowered their price targets for Micron (NASDAQ: NASDAQ:MU ) due to concerns about high inventories and weak demand for older memory components. However, analysts expect inventory issues to ease by the end of the year, with improvements in gross margins and revenue in the coming quarters. Business Outlook: Looking ahead, analysts are optimistic about Micron’s potential growth. The AI-driven upgrade cycle is expected to drive demand for edge devices and data center memory solutions, while a possible server refresh could also provide tailwinds. Analysts estimate that Micron (NASDAQ: NASDAQ:MU ) will generate $8.4 billion in revenue in the first quarter of fiscal 2025, with EPS expected to rise to $1.45. Market Sentiment: Despite these positive views, some caution remains in the market. While Micron’s stock has gained about 10% year-to-date, it has also faced volatility, especially in the wake of mixed earnings reports from its competitors, such as Broadcom and Nvidia. This has led to reduced enthusiasm for the AI trade, though a positive earnings report today could reignite investor interest in AI-related semiconductor stocks. Technical Analysis: From a technical standpoint, Micron Technology stock (NASDAQ: NASDAQ:MU ) is showing signs of bullish momentum. As of today, the stock is up 1.50%, rebounding from a presumed downtrend. It is trading within a falling wedge pattern on the daily chart, a bullish reversal indicator. If Micron Technology stock (NASDAQ: NASDAQ:MU ) delivers a positive earnings surprise, the stock could break through the upper boundary of this pattern, leading to a potential rally toward its 200-day moving average around $105 and possibly higher toward the $130 resistance pivot. Key Technical Indicators: - Relative Strength Index (RSI): Currently sitting at 52.00, the RSI indicates a neutral stance, but given the earnings catalyst, the stock is poised for a potential breakout. - Support Levels: The stock has solid support around $86. A drop below this level could signal further downside risk. - Resistance Levels: Overhead resistance is found near $100, with the 200-day moving average acting as the next significant level to break around $105. Investor Sentiment: Investor sentiment in the options market has grown increasingly bullish in recent weeks. Call options far outweigh put options, with large positions held at the $95, $100, and $155 strike prices, expiring shortly after the earnings report. This suggests that traders are betting on a positive earnings outcome that could propel the stock higher. Conclusion: Micron’s earnings report later today is shaping up to be a pivotal moment for the company and its investors. Strong results driven by demand for AI-related memory chips could not only send the stock higher but also restore broader enthusiasm for the AI trade, which has faltered in recent months. However, traders will need to keep a close eye on inventory levels, management’s guidance, and market sentiment to assess the stock's future direction. In short, Micron Technology stock (NASDAQ: NASDAQ:MU ) may stand at the cusp of becoming one of the biggest bargains in the semiconductor space, with upside potential fueled by AI and data center demand, but tempered by near-term concerns over inventories and legacy products.
NASDAQ:MULong
by DEXWireNews
Double Bottom Is Forming on MicronMicron is in an interesting position after shedding a great amount of value in the last 3 months. The Fundamentals are great and Microns Balance Sheet has very few problems! with the double bottom forming this could be signaling a very bullish sentiment with a possible reversal towards the upside. Micron is currently being forecasted with Revenue and EPS Growth. ---------------------------------------------------------------------------------------------------------------- Balance Sheet: Micron has a decent Debt to Equity Ratio while having more then 3 Assets for every 1 Liability which is personally important to me when looking at stocks, Debt is Manageable especially should Micron beat all forcasts Cash: US$8.38b Debt: US$11.33b Total Liability: US$22.03b Total Assets: US$66.26b Debt to Equity Ratio is: 25.6% ---------------------------------------------------------------------------------------------------------------- Resumed its Share Buy-Back Program ---------------------------------------------------------------------------------------------------------------- Highly Important Industry Supplier and Affiliates: Being Extremely Important with Industry Titans like Nvidia, Apple, Intel, MPS/Monolithic Power Systems, AMD, Texas Instruments, Microsoft, Gigabyte, Broadcom. ---------------------------------------------------------------------------------------------------------------- Diversified Business Model: Micron is not just a memory business its highly Diversified in 23.46% of there Revenue is derived from Microns -> "Mobile Business Unit" 23.4% of there Revenue is derived from microns -> "Embedded Business Unit" 36.74% of there Revenue is derived from Microns -> "Networking and Business Unit" 16.43% of there Revenue is derived from Microns -> "Storage Unit Business" ---------------------------------------------------------------------------------------------------------------- While Micron is in another uptrend in Revenue growth I think personally this time it could be more permanent growth, Micron is Extremely Undervalued compared to market peers such as Nvidia, and Micron with PE Ratios being well above 50 while Micron is extremely important within the Artificial Intelligence industry it benefits from a wide range of industries such as Artificial intelligence, Automotive, Computers, Memory, ETC. ---------------------------------------------------------------------------------------------------------------- Disclaimer: I am not a financial expert or have any certifications I just trade stocks as a personal hobby and I greatly encourage you to do your own research and not just take words at face value to make extremely risky investments. Please do your own Research I am not giving Buy, Sell or Hold Signals, This is just for healthy conversation and nothing else. ---------------------------------------------------------------------------------------------------------------- Idea:
NASDAQ:MULong
by BullishCanadianInvestor
9
Micron Technology - Patience and price action!NASDAQ:MU is literally creating so clear and repetitive market structure, this is textbook. Bullish break and retest, cycle and correction. Micron Technology has been repeating this price action for over a decade and is about to enter another correction phase. If you don't want to trade this anticipated correction, you can instead wait for another retest of previous resistance, bullish confirmation and a rejection. Following the cycles, a bullish move there is quite likely. Levels to watch: $140, $95 Keep your long term vision, Philip - BasicTrading
NASDAQ:MUShort
by basictradingtv
11
MU Micron Technology Options Ahead of EarningsIf you haven`t bought the dip on MU: nor calls ahead of the previous earnings: Now analyzing the options chain and the chart patterns of MU Micron Technology prior to the earnings report this week, I would consider purchasing the 140usd strike price Calls with an expiration date of 2024-6-28, for a premium of approximately $9.55. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NASDAQ:MULong
by TopgOptions
1