Micron recovery debated by analysts as bottom is called in memory-chip market

Shares of Micron Technology Inc. declined Thursday after analysts acknowledged that the memory-chip maker is on the road to recovery but debated how long that would take.

Late Wednesday, Micron’s MU results topped Wall Street expectations and the company’s chief executive, Sanjay Mehrotra, called a bottom in the beaten-up memory-chip market, causing shares to rise after hours. The stock, however, soon began to slip as executives on the call said that worse-than-feared demand for PCs and smartphones would eat into sales boosts from artificial-intelligence customers.

Morgan Stanley analyst Joseph Moore was less optimistic, with an underweight rating and a $46 price target. Moore said that while Micron’s top line isn’t getting worse and inventory is getting written down, the company still faces challenges.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Micron stock rises as CEO calls bottom in memory-chip marketMicron shares rose in the extended session Wednesday after $MU's chief executive called the bottom on the sector, and revenue came in slightly higher than expected. The company reported a third-quarter loss of $1.9 billion.
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

Asian chip stocks rally after Micron's bullish forecast signals easing supply glutShares of Asian chipmakers rallied after Micron's earnings beat estimates on the back of higher demand for its memory chips driven by the growing A.I. sector.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

Micron Technology and BlackBerry shares gain after results, and other stocks on the moveHere are some of the biggest movers of the day, including BlackBerry, Micron Technology and Overstock.com
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »