|Bid||43.25 x 900|
|Ask||43.55 x 1200|
|Day's range||42.31 - 45.28|
|52-week range||31.13 - 61.19|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||21.47|
|Earnings date||22 Jun 2020 - 28 Jun 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||06 May 1996|
|1y target est||62.98|
Chipmakers tend to benefit from demand spike for PCs and cloud services, as increasing number of employees and students are working and learning from home amid the coronavirus-led global lockdown.
Micron Technology, Inc. (NASDAQ:MU) just released its quarterly report and things are looking bullish. It was overall...
Although Micron (MU) witnesses significant declines in Q2 revenues and earnings, management's positive commentary on the company's current-quarter performance is making investors hopeful.
(Bloomberg) -- Micron Technology Inc. predicted stronger-than-expected revenue helped by a surge in orders from data center operators who are building more capacity to deal with the expansion of people working from home.Revenue will be $4.6 billion to $5.2 billion in the fiscal third quarter, which ends in May, Micron said Wednesday in a statement. Analysts had projected $4.88 billion, according to data compiled by Bloomberg. Adjusted earnings will be 55 cents a share, plus or minus 15 cents. Analysts, on average, estimated 52 cents a share.Micron is one of the first chip industry companies to report earnings and give predictions since millions of people have been told to stay home to help slow the spread of the Covid-19 pandemic. That huge shift in the workforce has placed a greater strain on the internet’s infrastructure, spurring demand for Micron’s memory chips and making up for some of the shortfall in orders for smartphone components, as shoppers stay away from stores.“In the data center market, we benefited from strong demand for our products from key cloud and enterprise customers, driven in part by ongoing strength in cloud markets, increased use of online properties such as e-commerce, and the surge in remote-work requirements due to COVID-19 containment measures,” Micron Chief Executive Officer Sanjay Mehrotra said in prepared remarks posted on the company’s website.In a slide presentation, Micron also cited increased gaming activity. While the markets for smartphones, consumer electronics and autos are below previous expectations, Micron said it’s seeing an increase in demand for notebooks to support work at home and virtual learning.The company has two employees who have tested positive for the virus. Through efforts to quarantine them, there hasn’t yet been an impact on the company’s manufacturing output, Micron said. The Boise, Idaho-based company has plants in Singapore, Malaysia and Japan, where the spread of the virus was felt sooner. That raised concern Micron’s output would slow. The company, however, said it has resumed manufacturing in Malaysia and found testing and assembly facilities in other parts of the world to help.“Micron still has ample inventory that would limit a near-term supply chain disruption,” Cowen and Co. analyst Karl Ackerman wrote in a report before the results were released. “The supply bottleneck has morphed into a demand challenge, however, and our field work on the smartphone and PC supply chains indicates low visibility for second calendar-quarter production.”The company makes dynamic random access memory chips, which help processors crunch data in computers and smartphones, and Nand flash memory, which stores information in those devices. Memory used in servers is typically more expensive and chips used in storage for those machines also usually commands a higher price.Micron cautioned that its numbers are a lagging indicator of orders for end products and that some customers may be stockpiling chips, which may mask the true picture of demand.Shares rose about 5% in extended-trading following the report. They closed at $42.50 earlier on Wednesday, leaving them down 21% this year.Net income in the period ended Feb. 27 fell to $405 million, or 36 cents a share, from $1.62 billion, or $1.42 a share, a year earlier. Revenue declined 18% to $4.8 billion. Micron’s biggest competitors are South Korea’s Samsung Electronics Co. and SK Hynix Inc.(Updates with comments from CEO in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Micron (MU) delivered earnings and revenue surprises of 18.42% and 3.04%, respectively, for the quarter ended February 2020. Do the numbers hold clues to what lies ahead for the stock?
Micron Technology, Inc. (MU), today announced plans to commit $35 million to help those disproportionately affected by COVID-19. The company will launch a new Micron Foundation $10 million relief fund, increase employee gift matching, and introduce financial assistance for team members through grants. “Micron is prioritizing the health and safety of our team members and partners, and the well-being of the communities in which we operate,” said Micron President and Chief Executive Officer Sanjay Mehrotra.
Strong execution drives profitability and 13th consecutive quarter of free cash flow BOISE, Idaho, March 25, 2020 -- Micron Technology, Inc. (Nasdaq: MU) today announced.
High business exposure to China might have adversely impacted Micron's (MU) Q2 earnings, as the country has been on a lockdown since late January due to the coronavirus outbreak.
It is gearing up to be another potentially volatile week for markets as coronavirus cases continue to rise and economic data reveals the outbreak’s damage on the U.S. economy.
While Micron's (MU) Q2 results might reflect negative impact of demand-and-supply disruptions due to the coronavirus outbreak, resumption of chip shipments to Huawei is likely to have been a positive.
(Bloomberg) -- Apple Inc. kept its business rolling through the coronavirus pandemic this week by launching a new iPad Pro and two new Macs. But that doesn’t mean its supply chain is in the clear.Deliveries of the new products will begin arriving on doorsteps next week. However, production of those devices likely started in early January, before the worst effects of China’s virus lockdown in February, according to people familiar with Apple’s supply chain.With a fresh round of supplier factory closures enforced by Malaysia, and the virus disrupting operations in much of the rest of the world, the iPhone maker’s supply chain has not fully recovered yet.Apple’s next flagship iPhones, with 5G wireless capabilities, are still on schedule to launch in the fall, although that’s partly because mass production isn’t due to begin until May, said the people. They asked not to be identified discussing private supply chain issues.“Even as China comes back on line, we are beginning to wonder if Covid-19 will impact other supply oriented geographies,” Brad Gastwirth, chief technology strategist at Wedbush Securities, wrote in a recent note to investors. “While China is improving, the supply chain for the electronics industry may yet see substantial disruptions.”An Apple spokesman declined to comment. Chief Executive Officer Tim Cook, the architect of the company’s China-focused supply chain, said Feb. 28 that production issues would be a “temporary condition.”Apple’s assembly factories in China, run mainly by Hon Hai Precision Industry Co., were in low gear for much of February. The manufacturing giant, also known as Foxconn, hopes to begin operating normally by the end of March.The February slowdown led to iPhone and AirPods supply constraints, but those have begun to subside. This week, Apple has been limiting iPhone purchases to two per customer on its online store in several countries. In early March, the company warned retail employees about shortages of replacement iPhones.One new product unveiled this week suggests there’s strain on Apple’s supply chain, but also shows the company can still mass produce gadgets given enough time. The keyboard accessory for the iPad Pro was announced Wednesday but goes on sale in May, an unusual delay.Read more: Supply Shock Is Wiping Out Hopes of Smartphone Sales GrowthMass assembly is only one part of Apple’s supply chain. The company and its many partners spend months or years sourcing individual components that are assembled into final products. Any disruptions in this complex network could slow the introduction of future devices.One person who works in Apple’s supply chain said not all operations are moving at normal speed because the flow of components to assemble is still slow. It will take another month or more to get parts moving steadily through the system, the person added.Jabil Inc., which makes iPhone casings, recently said its factories in China were “near normal,” while plants in other parts of the world were running 5% to 10% below capacity.“Most of that is due to supply chain issues. In some odd way, as we sit today, I think China is the least of our concerns,” CEO Mark Mondello told analysts during a March 13 conference call. “We’re able to accommodate all of the demand that’s in front of us as long as we can get parts.”A two-week lockdown in Malaysia is affecting several key suppliers that have operations in the country. Murata Manufacturing Co., Renesas Electronics Corp. and Ibiden Co., which make chips and circuit boards for Apple, have halted production there.Micron Technology Inc., which makes memory chips for Apple devices, is also impacted, but said an exemption allows “limited semiconductor operations to continue.” Texas Instruments Inc. and On Semiconductor Corp. have facilities in Malaysia, too.Apple has suppliers and operations in other countries that have been hammered by the virus, including Italy, Germany, the U.K. and South Korea.Samsung Display and LG Display Co. make iPhone screens in South Korea, while many Apple engineers working on cellular modems are based in Munich, Germany. Apple also operates former Dialog Semiconductor Plc facilities that work on power-management chips in Livorno, Italy, Nabern and Neuaubing, Germany, and Swindon, U.K.Apple has several hundred research and development engineers for future processors and underlying technologies in Israel, which is only letting citizens leave their homes for essential reasons, like buying food and medicine.Read more: Israel’s Netanyahu Orders Near Total LockdownIn the U.S., Apple has suppliers such as Corning Inc. for glass, and Qorvo Inc., Skyworks Solutions Inc. and Broadcom Inc. for wireless chips. Broadcom Chief Executive Officer Hock Tan said recently that the virus “is going to have an impact on our semiconductor business, in particular in the second half of the fiscal year.”Chips take months to make and test, and companies build up months of inventory. That means Apple and other device makers may not have seen the worst of the disruptions yet.The virus is likely challenging Apple’s ability to design and test early versions of future products in Silicon Valley, which is grappling with a shelter-in-place mandate. The company has instated a remote work order, save for some mission-critical employees, for all its offices outside of China.San Francisco’s Shelter-in-Place Order Shows U.S. What’s to ComeThese struggles have yet to severely derail the 5G iPhone launch in the fall. During China’s factory shutdown in February, Apple was able to build a limited number of test versions of the new models, one of the people familiar with the company’s supply chain said.Apple finalizes the majority of design features for new iPhones between November and December of the year prior to launch, the people said. It begins mass-producing new casings around April and then starts a late manufacturing stage called Final Assembly, Test and Pack in about May.Should Apple be unable to send full teams of engineers to China factories to finalize designs and resolve issues, this typical timeline could still slip, another person familiar with the company’s supply chain said.(Updates with Jabil comments in 12th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Micron (MU) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Micron's (MU) latest, low-power uMCP LPDRAM packaging solution's ability to increase memory and storage density by 50% makes it suitable for slim, midrange smartphone designs.
SAN JOSE, Calif., March 10, 2020 -- Micron Technology, Inc. (Nasdaq: MU), today announced it began sampling the industry’s first universal flash storage (UFS) multichip package.
The Zacks Analyst Blog Highlights: Boingo Wireless, Onespan, Dropbox, Micron Technology and Applied Materials
Micron shares bounced back on Monday as part of the market-wide comeback that followed Wall Street's worst week since the financial crisis. The question is should investors think about buying shares of the semiconductor firm amid coronavirus fears?
(Bloomberg) -- Huawei Technologies Co., the Chinese technology giant barred from doing business with U.S. suppliers, is finding a way around the strict limits imposed by the Trump administration.The Commerce Department, citing national security concerns, has largely forbidden American companies from selling Huawei the computer chips it needs to make a piece of equipment integral to newly introduced high-speed wireless networks. In response, China’s largest technology company ramped up its own capabilities to manufacture the gear, which is known as a base station.In a sign that the self-reliance is working, Huawei in the fourth quarter sold more than 50,000 of these next-generation base stations that were free of U.S. technology, according to Tim Danks, the U.S.-based Huawei executive responsible for partner relations. That’s only about 8% of the total base stations that Huawei’s sold as of February, but the company is quickly ramping up at its secretive HiSilicon division to make more of these American component-free devices, Danks said.“It’s still our intention to return to using U.S. technology,” he said. The longer Huawei goes without access to U.S. suppliers, the more unlikely it is to be able to return to using them, Danks added.A base station is a typically suitcase-sized piece of machinery that’s used to help connect wireless phones to fixed-line networks carrying internet traffic, and it’s an essential ingredient in the next, or fifth, generation of mobile networks. Popular among telecommunications providers, Huawei’s base stations are widely considered among the most reliable for the price.Read about how Trump’s blacklisting of Huawei is failing to halt its growth.U.S. officials accuse Huawei of stealing valuable intellectual property and violating a trade embargo with Iran. The Trump administration blacklisted the company last year, saying there’s a risk Huawei could give Beijing access to sensitive data coursing through telecommunications networks that employ its gear. Huawei has denied the allegations. Critics also said the U.S. government imposed the sanctions to hobble China’s leadership in key aspects of 5G technology.As of early February, Huawei had shipped about 600,000 5G base stations to mobile phone companies racing to upgrade networks to the new standard, which is designed to deliver data at faster speeds to a broad range of wirelessly connected devices -- not just mobile handsets. Most of these base stations were made using stockpiled chips bought before the ban.While Huawei doesn’t disclose its suppliers, base stations typically rely on a kind of processor called a field programmable gate array that’s made by Intel Corp., a chipmaking colossus based in Santa Clara, California, and Xilinx Inc., in neighboring San Jose. Those chips provide flexibility that makes it easier to update machines as new standards and features are added. Huawei’s chips are application-specific, meaning they’re tailored to particular functions and it takes more time and money to replace them. That’s a disadvantage at a time when new technology, such as 5G, is in its infancy and still subject to big changes.Read more: Huawei Engineers Go to 24-Hour Days to Beat Trump BlacklistThe U.S. initially clamped down on all shipments of U.S. supplies to Huawei, which had spent more than $10 billion a year on U.S. products, but later began making some exceptions. Xilinx and fellow chipmakers Micron Technology Inc. and Broadcom Inc. have all reported falling earnings on reduced or eliminated sales to Huawei.Attempts by the U.S. to persuade European and other allied countries to ban Huawei equipment have fallen short, and chipmakers in Asia and Europe continue to supply it.For their part, American chipmakers have argued that banning the supply of parts that Huawei can get elsewhere is counterproductive, saying that the lost revenue crimps research and development budgets and the ability to produce the best chips in the future. Huawei’s HiSilicon chip unit designs semiconductors and has them manufactured by industry-leading plants owned by Taiwan Semiconductor Manufacturing Co. But Washington is even now said to be looking into ways to curb the world’s largest contract chipmaker on grounds of national security, and deprive Huawei of its largest semiconductor manufacturing partner.The Chinese company led the market for base stations with a 28% share last year, according to New Street Research. The investment company predicts demand for that equipment will rise this year with the 5G network buildout. Nokia Oyj and Ericsson AB are its two largest competitors in this market.How Huawei Landed at the Center of Global Tech Tussle: QuickTake(Updates with details of TSMC’s role in the 11th paragraph)\--With assistance from Gao Yuan.To contact the reporter on this story: Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Tom Giles, Edwin ChanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wall Street selling was stemmed Friday, as Federal Reserve Chairman Jerome Powell hinted at a rate cut after flagging the coronavirus as "evolving risk" to the economy. The S&P 500 slipped 1.07% and Nasdaq Composite fell 0.22%. For weeks, Wall Street has been upping bets on a Federal Reserve rate cut, with some pricing in three consecutive cuts starting as soon as March.