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MICRON TECHNOLOGY INCMICRON TECHNOLOGY INCMICRON TECHNOLOGY INC

MICRON TECHNOLOGY INC

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Micron Reports Earnings Next Week. What Do Its Charts Say?High-end chip designer Micron Technology NASDAQ:MU will report earnings next Wednesday (Dec. 18), with analysts looking for about 84% in year-over-year revenue growth -- representing what would be the third straight quarter of 80%+ annual sales gains. Let’s see what MU’s fundamental and technical analysis say heading into the report. Micron’s Fundamental Analysis MU management has previously guided its fiscal Q1 results to $1.74 in adjusted earnings per share on $8.7 billion of revenue. However, analysts’ consensus view as I write this is calling for Micron to do even better -- $1.77 in non-GAAP EPS on $8.7 billion in revenues. That would compare nicely to the $0.95 per share non-GAAP loss that the firm saw on $4.73 billion of revenues in the same period last year. Of the 22 sell-side analysts that I found who track Micron, 12 have increased their fiscal Q1 earnings estimates recently, while 10 have cut them. But as noted above, analysts’ consensus estimate looks for the company to continue its recent string of 80%+ year-over-year revenue gains. Clearly, the buildout of large language models and other AI-related needs has ramped up the need for Micron’s memory chips. Micron has certainly been an operating-cash-flow beast, but has also spent plenty of that incoming money on new equipment. On one hand, the firm generated $3.4 billion of operating cash flow during its fiscal Q4 ended Aug. 29, along with $8.5 billion for the trailing 12 months that concluded at that time. However, capital expenditures (“capex”) during fiscal Q4 totaled $3.1 billion, as well as $8.4 billion in the 12 months ended Aug. 29. So, free cash flow was positive, but not by all that comfortable a margin. Looking at the balance sheet, MU had an $8.1 billion cash position as of Aug. 29, along with $8.9 billion in inventories and $24.4 billion in total current assets. Current liabilities added up to $9.3 billion, which included $106 million in shorter-term debt and $766 million of unearned revenue. That left the firm's current and quick ratios at 2.64 and 1.68, respectively. That's quite strong by Wall Street norms, especially for an inventory-intensive business. Total assets amounted to $69.4 billion, which included just the smallest amount of goodwill and other intangibles. Meanwhile, total liabilities less equity came in at $24.3 billion. That included $11.2 billion in long-term debt – a level that doesn’t look like the end of the world, but that Micron will probably need to manage over time. Still, MU’s balance sheet appears healthy overall by industry norms. Technically Speaking ... Now let’s look at Micron’s chart going back to April 2022: Readers will see that the stock rallied more than 200% from its $48.45 September 2022 intraday low to its $157.54 June 2024 intraday high. MU then pulled back between July and September of this year, but found support at close to the 61.8% Fibonacci retracement level of the entire 2022-2024 rally. That set up the range that the stock has been trading in ever since. Now let’s zoom in and look at Micron’s chart from just April 2024 to December 2024: In this time frame, readers will see that MU has been trading within a series of lower highs and higher lows -- creating what’s called a “pennant” formation (denoted by the purple lines above). Micron’s pennant appears to be closing as earnings approach, which could be significant. Historically, violent market reactions often ensue when a stock’s pennant or triangle pattern closes. MU isn’t far from breaking below the pennant’s lower trendline. Should that happen, there will be nothing technical standing between that trendline and Micron’s August/September double-bottom lows. Also note that Micron is trading below its 21-day Exponential Moving Average (or “EMA,” marked with a green line), its 50-day Simple Moving Average (or “SMA,” denoted with a blue line) and its 200-day SMA (the red line). This sets up a series of obstacles that could serve as resistance. That said, taking and holding these levels could bring the swing crowd on board, while also forcing portfolio managers to increase long-side exposure. Meanwhile, readers will see a largely neutral reading for Micron’s Relative Strength Index, as denoted by the gray line at the chart’s top. Similarly, MU’s Moving Average Convergence Divergence indicator (or “MACD,” marked with gold and black lines and blue bars at the chart’s bottom) tells us very little. All three components -- the histogram of the 9-day EMA (blue bars), the 12-day Exponential Moving average (or “EMA,” marked with a black line) and the 26-day EMA (gold line) are running together. They’re also all close to zero, which is historically a neutral sign. (Moomoo Markets Commentator Stephen “Sarge” Guilfoyle had no position in MU at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. 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NASDAQ:MU
by moomoo
5
$MU uptrend tapping older highs as new lows?Thinking about starting a small position on NASDAQ:MU $100c for Jan. 2025 for a scalp into earnings call Dec. 18th. Bear vs. Bull flow seems mixed but I see, in my opinion, enough actionable call option flow to take this trade on top of a good looking technical layout. The chart shows me uptrend and bouncing off it's double tops from previous years at $95. Can be utilized as a new clear support. Looks like it's creating a symmetrical triangle off the highs of $145 in June 2024 which currently puts the stock at almost a 37% retrace from that time.
NASDAQ:MU
by wallstreetloser001
1
Micron Technology ($MU): Strategic Buy with AI-Driven UpsideMicron Technology ( NASDAQ:MU ): Strategic Buy with AI-Driven Upside Trade Setup: - **Buy Price:** $98.66 - **Stop-Loss:** $84.68 - **Take-Profit:** $160 to $180 **Rationale:** Micron Technology, a leader in memory and storage solutions, is poised to benefit from the growing demand in artificial intelligence (AI) applications. The company's advancements in high-bandwidth memory (HBM) position it favourably within the semiconductor industry. **Financial Performance:** In fiscal Q4 2024, Micron reported revenue of $7.75 billion, a significant increase from $4.01 billion in the same period last year. The GAAP net income was $887 million, or $0.79 per diluted share, marking a substantial turnaround from the previous year's loss. **Analyst Insights:** Analysts have set a 12-month average price target of $146.28, with estimates ranging from $90 to $250, indicating a potential upside of approximately 48% from the current price. **Risk Management:** The stop-loss at $84.68 helps mitigate downside risk, while the take-profit range of $160 to $180 offers a favorable risk-reward ratio. When the Market’s Call, We Stand Tall. Bull or Bear, Just Ride the Wave! *Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own due diligence before making investment decisions.*
NASDAQ:MULong
by SiriusTrading
2
Micron stock dips 38 percent, is it time to buy?Micron Technology (MU) stock reached a 52-week high of $157.54 on June 18, 2024. As of November 27, 2024, it trades at $97.35, marking a decline of approximately 38.2% from its peak. This decline may present an opportunity for investors to "buy the dip," especially as the stock remains within a long-term upward trend. Current support levels are identified in the $85 to $96 range, where the stock has previously surpassed historical peaks, suggesting potential resilience in this zone​. Micron Technology's growth potential is driven by increasing demand for DRAM and NAND memory across sectors like AI, data centers, and 5G smartphones, with projected annual growth rates exceeding 30% in some areas. Automotive advancements, including electric and autonomous vehicles, and the expansion of IoT applications further fuel the need for high-capacity, low-latency memory. Micron’s leadership in cutting-edge memory technologies, investments in R&D, and strategic positioning in high-growth markets like cloud computing and AI solidify its potential. Additionally, the rising memory content in devices and the global shift toward digital transformation bolster its prospect.
NASDAQ:MULong
by Quantific-Solutions
NYSE:MU - ELLIOTT WAVE ANALYSIS: 22 NOV, 2024 - BULLISH©Master of Elliott Wave: Hua (Shane) Cuong, CEWA-M. I see that an ABC-grey probably just completed recently at the 84.12 low, and the corrective waves are followed by motive waves, so I expect a much higher push in this stock. Looking closer, I see that the 1-grey and 2-grey waves just completed at 95.53 and it looks like the 3-grey wave is unfolding. It is subdividing into ((i)),((ii))-navy. And after the ((ii))-navy wave is over, we can go long towards the ((iii))-navy wave. While price must remain above 95.53 to maintain this view. Key point: Wave B of wave ((ii))-navy.
NASDAQ:MULong
by ShaneHua
Tech 2x leverage ETF's // mull, tsmu mstuI recently purchased mstu and even more recently looked at their chart😊. Their first candle on Wed the 18th to todays close is just proud of 400%. I am currently down about 4%. MSTR chart from Oct 18 to close today is roughly 150%. So… The ETF accelerated faster than a 2x pace for the first month. I understand MSTR is super popular right now and that that likely helped the etf, however, it got me to thinking. Are leveraged ETFs in general accelerating faster than the underlying consistently upon launch? Well the answer is no. I looked at recent 2x launches going back to the low in early August and mstu is an outlier. I did see crwl for CRWD and tsmu for TSM. They were introduced this week. On our Remembrance Day in fact. Respect to US Veterans Day. Both underlying stocks are solid in my opinion. Especially so in the seasonal broad race to the New Year. The chart I chose to show was MU…mainly because of the range its been playing in. I think it’s consolidating in the warmth of the March gap and going to break to the up side. US government has announced that $39 Billion will be released through the chips act and both TSM // MU will be recipients. BOOST! To whomever is trading for the MSTU company; Well done team...genuinely, well done. Congrats on the listing. Blunt question for you; is the accelerated growth beyond a 2x result in this first month solely on your trades or are you using VC dollars to create a curve? I hope it’s the former…and I wish you all the best. P.S.A to anyone looking at mstr call options…the IV is ±130% last time I looked for anything in Q1 of 2025. Brutal. You might as well by spot. Don’t get burned. Take care, MR
NASDAQ:MULong
by Mr_Robbers
5
MU has closed above resistance MU has triggered my second entry with a close above resistance yesterday. My buy order is at 113.87 just above yesterdays high and my stop is at 105.60 just below the gap from 06 Nov. the 8 ema is above the 21 and 2ema is currently above the 89 ema pointing a short and longer term trend change. The angular trend line could also be used for a trailing stop until a better level presents itself. I try to remain flexible within my risk management rules!
NASDAQ:MU
by WarrenCP
2
Difference between candles and barsHey traders and investors! What is the difference between using candles or bars on a chart? This example clearly shows the key difference. Take note of the closing price of the candle on September 26 (point 8 of the range). On a candlestick chart, this is impossible to understand. On a bar chart, the closing price is clearly visible. The closing price is below the range boundary of 111.34, the trading volume is enormous, and the buyer was unable to break above the range. Now, the price has reached the range boundary of 111.34 for the second time on increased volume, and the seller has absorbed the buyer, forming a buyer's zone at the upper boundary of the range. There is a high probability of further price decline within the short vector 8-9 of the range (potential target 85.92). However, there are threats along the seller's path. You might consider buying at the 98.7 level (if buyer will protect it) or around 84-86. Good luck with your trading and investments!
NASDAQ:MU
by AlexeyWolf
2