Al385
2021-09-28
Earnings are always good buy price action speaks differently
Micron Has Been Stuck in Neutral. Can Its Earnings Fix the Stock?
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Can Its Earnings Fix the Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=1164667628","media":"Barrons","summary":"Micron Technology stock has barely moved this year, giving investors little reason to get excited ab","content":"<p>Micron Technology stock has barely moved this year, giving investors little reason to get excited about the memory maker. But that might change Tuesday when the company reports earnings.</p>\n<p>Micron (ticker: MU) is set to report fiscal fourth-quarter results after the closing bell. The consensus estimate is adjusted earnings of $2.33 a share on revenue of $8.22 billion. Micron has issued guidance for earnings of $2.20 to $2.40 a share, and revenue of $8 billion to $8.4 billion, according to FactSet. In the year-ago quarter, Micron reported an adjusted profit of $1.08 a share on revenue of $6.06 billion.</p>\n<p></p>\n<p>Citi Research analyst Christopher Danely expects Micron to report earnings that are in line with consensus estimates, and that executives will issue guidance that comes in below fiscal first-quarter forecasts. He’s bullish on the company, reiterating a Buy rating on the stock.</p>\n<p></p>\n<p>But he projects the memory the company makes will get 5% to 10% cheaper in the fourth quarter, and 10% cheaper early next year. That dip is likely a short-term issue, he wrote in a note published Monday. Danely expects memory pricing to drop as much as 10% through the first quarter in 2022, and recover that 10% in the second half of next year. </p>\n<p></p>\n<p>Such a dip in prices would be mostly the result of the market for personal computers, which makes up roughly 20% of the overall demand for dynamic random access memory. Danely said demand for memory for PCs will dry up, and inventory at hyper-scale data center companies will remain high.</p>\n<p>As a result of lower prices for memory, Danely cut his estimates for 2022 revenue to $32.50 billion, and earnings to $8.82 a share. The consensus among analysts tracked by FactSet is for earnings of $10.87 a share for fiscal 2022 on revenue of $36.25 billion. Danely said the worst memory price drops will occur in the first three months of 2022, and the company’s gross margins will bottom out at roughly 40%. Analysts expect gross margins of 47% for the fourth quarter.</p>\n<p>Danely predicted that the company will cut capital spending soon too, as a result of memory pricing drop, suggesting that it would do so early next year.</p>\n<p>Of the analysts who cover Micron, 88% rate shares a Buy, and 13% have a Hold rating on the stock. There are no sell ratings on Micron, according to FactSet. The average target price is $110.10, which implies an upside of 47%.</p>\n<p>Shares of Micron advanced 1.5% to $75.18 in Monday trading. The stock has been flat this year, as the PHLX Semiconductor index,or SOX, rose 23%.</p>\n<p></p>\n<p></p>\n<p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron Has Been Stuck in Neutral. 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Can Its Earnings Fix the Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-28 17:57 GMT+8 <a href=https://www.barrons.com/articles/micron-stock-price-earnings-51632791745?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Micron Technology stock has barely moved this year, giving investors little reason to get excited about the memory maker. But that might change Tuesday when the company reports earnings.\nMicron (...</p>\n\n<a href=\"https://www.barrons.com/articles/micron-stock-price-earnings-51632791745?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://www.barrons.com/articles/micron-stock-price-earnings-51632791745?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164667628","content_text":"Micron Technology stock has barely moved this year, giving investors little reason to get excited about the memory maker. But that might change Tuesday when the company reports earnings.\nMicron (ticker: MU) is set to report fiscal fourth-quarter results after the closing bell. The consensus estimate is adjusted earnings of $2.33 a share on revenue of $8.22 billion. Micron has issued guidance for earnings of $2.20 to $2.40 a share, and revenue of $8 billion to $8.4 billion, according to FactSet. In the year-ago quarter, Micron reported an adjusted profit of $1.08 a share on revenue of $6.06 billion.\n\nCiti Research analyst Christopher Danely expects Micron to report earnings that are in line with consensus estimates, and that executives will issue guidance that comes in below fiscal first-quarter forecasts. He’s bullish on the company, reiterating a Buy rating on the stock.\n\nBut he projects the memory the company makes will get 5% to 10% cheaper in the fourth quarter, and 10% cheaper early next year. That dip is likely a short-term issue, he wrote in a note published Monday. Danely expects memory pricing to drop as much as 10% through the first quarter in 2022, and recover that 10% in the second half of next year. \n\nSuch a dip in prices would be mostly the result of the market for personal computers, which makes up roughly 20% of the overall demand for dynamic random access memory. Danely said demand for memory for PCs will dry up, and inventory at hyper-scale data center companies will remain high.\nAs a result of lower prices for memory, Danely cut his estimates for 2022 revenue to $32.50 billion, and earnings to $8.82 a share. The consensus among analysts tracked by FactSet is for earnings of $10.87 a share for fiscal 2022 on revenue of $36.25 billion. Danely said the worst memory price drops will occur in the first three months of 2022, and the company’s gross margins will bottom out at roughly 40%. Analysts expect gross margins of 47% for the fourth quarter.\nDanely predicted that the company will cut capital spending soon too, as a result of memory pricing drop, suggesting that it would do so early next year.\nOf the analysts who cover Micron, 88% rate shares a Buy, and 13% have a Hold rating on the stock. There are no sell ratings on Micron, according to FactSet. The average target price is $110.10, which implies an upside of 47%.\nShares of Micron advanced 1.5% to $75.18 in Monday trading. The stock has been flat this year, as the PHLX Semiconductor index,or SOX, rose 23%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":877,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":52,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/862937532"}
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