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Micron Technology Inc (Extended Hours)

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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
Micron – Ready for Breakout After Earnings?Micron ( NASDAQ:MU ) is handling the potential double bottom formation well, with a key breakout level approaching at $109. I wouldn’t jump in until it crosses this level, as I want to see the stock approaching its 150-day moving average, currently around $112.19. Once we see that breakout, I’d expect a solid trade with a target around $136.50. While I’m not in Micron for the long term yet, I believe this setup could make for a strong short-term trade. Technicals are lining up: RSI is bouncing back from oversold, volume is increasing, and a bullish engulfing candle just appeared. All signs point toward an upcoming breakout, but it will be key to see if the earnings report can provide the final push. Earnings Expectations: Revenue and Earnings Beat: For the stock to break out, Micron needs to deliver a revenue beat of 2% or more . This would signal they are navigating the current semiconductor environment effectively. Raised Guidance: Investors will want to see next-quarter guidance raised by at least 3% , especially in AI, cloud, and memory demand sectors. Inventory Management: The market will look for signs of reduced inventory and stable or improving pricing for DRAM and NAND chips. AI Partnerships: New developments or partnerships in AI could serve as another catalyst for growth. The market is waiting for a clear sign of recovery. A beat on earnings and a strong forward outlook could be just the push Micron needs to break through the $109 resistance and begin a new uptrend. What do you think? Will Micron’s earnings be the catalyst we’ve been waiting for, or is the stock still too risky at these levels?
NASDAQ:MULong
by elka_graph
4
Micron Technology (MU) – Potential Double Bottom FormingI'm seeing the early stages of a double bottom pattern forming in Micron's ( NASDAQ:MU ) price action. While the stock remains under the 150-day SMA at $112 , a breakout above the $90 neckline could signal a reversal with an upside target around $140—a potential 55% gain. This setup is still far from confirmed and represents a high-risk trade , but it could be a significant turnaround for Micron. A key factor to watch is Micron's earnings report next week, which could provide the momentum needed for a breakout. Micron has consistently beaten expectations and raised its outlook, so the upcoming earnings might be the catalyst for a major price jump. What are your thoughts on this potential turnaround? Do you see Micron's earnings fueling a breakout? Disclaimer : This idea is for informational purposes only and is not financial advice. I am not a professional, and you should do your own research or consult with a licensed professional before making any investment decisions.
NASDAQ:MULong
by elka_graph
6
MU: This could reverse the trend! (D&W charts)Daily Chart (Left): Double Bottom Formation: The price has formed a double bottom pattern near the $85 level, which often signifies a potential reversal point. This suggests that there might be bullish pressure accumulating at this support zone. Gap: There is a clear gap in the price action from July, which could potentially act as resistance. Gaps often get filled, meaning that price might gravitate towards the gap zone in the mid-term. Resistance Area: The price is approaching a critical resistance area around $91.47, which aligns with the 21-day EMA. This level needs to be cleared for any significant bullish momentum to continue. 21-day EMA: The stock has been trading below the 21-day EMA, and this has acted as a dynamic resistance. A clear break above this level could signal a stronger bullish move. Weekly Chart (Right): Hammer Pattern: On the weekly chart, a hammer pattern has formed at the $84.91 level, which is a bullish reversal candlestick pattern, often seen at the bottom of a downtrend. This suggests the possibility of a bounce from this level, reinforcing the significance of the support zone. Key Resistance Zones: The $91.47 level is also important on the weekly chart, as breaking above it would confirm the bullish reversal indicated by the hammer pattern. The next target would be the $111 level, where the price encountered resistance earlier. Conclusion: In the short term, $91.47 is the key resistance area to watch. A successful breakout above this level could lead to a bullish move towards the $111 level. However, failure to break above this resistance may result in consolidation or a potential retest of the $85 support level. The hammer pattern on the weekly chart adds weight to a possible bullish reversal, but confirmation is needed with a move above $91.47. For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions. Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation. “To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore All the best, Nathan.
NASDAQ:MU
by Nathan_Black
2
MU: Micron Inc death crossThe purpose is to analyze DEATH CROSS impact on MU day chart. It is remarkable that this time a death cross print is almost simultaneously by both 50&200 EMA and 50&200 SMA with a lag of just one day. As a rule, I look for a death cross whichever moving average pair print it earlier, as the other pair would be typically too late to the show (it can be 'either or' depending on magnitude of most recent price actions for EMA pair). This time both pairs print it simultaneously and I would argue that this time both are REMARKABLY late! As a matter of proof, I analyzed RELATIVE slope of MU bear markets that with a death cross, versus percentage the price had yet to retreat since the death cross print day until bottomed. There were approximately few of them (scroll back the chart to certain periods indicated below). November’14 – February’16 ~65% May’18 – December’18 ~32% April’21 – October’21 ~12% January’22 – September’22 ~30% And current June’24 – September’24 ??? On the right hand side of the chart, relative slopes of each bear market trendline are given. Looking at a relative steepness and rapidness of the June – September decline comparing to past periods, I would consider that this time both pairs of moving averages are lagging way behind and the death cross is too late to the show to indicate any extra percentage of price decline. i.e. the stock has bottomed and is already in upswing.
NASDAQ:MULong
by mike_volk
MU - 1W - Double BottomWhile semiconductor giants like ARM and NVDA have surged over 100% YTD, Micron has significantly underperformed, rising only 8% this year and dropping more than 45% in the past three months. However, a potential reversal may be on the horizon as a double bottom pattern forms around $83/share, accompanied by a strong bullish RSI divergence and price rebounding off the point of control (POC). This combination signals a possible shift in momentum.
NASDAQ:MULong
by Mike_Trading_