Sundry Photography Thesis In my previous article about Micron Technology, Inc. (NASDAQ:MU) I rated the stock as a "strong buy" after arriving at an estimated present fair price per share of $151.72 which was 37.4% higher than the stock price at that time of $110.40. I also calculated which could be the potential stock price for the year 2029, and the result was $199.64, which implies 13.5% annual returns, which is over the market's historic 10.50% annual returns. Micron reported Q3 2024 earnings on June 26. ...

SHANGHAI, CHINA - NOVEMBER 6, 2023 - A Micron logo is seen at the 6th CIIE 2023 in Shanghai, China, ... [+] November 6, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images)Future Publishing via Getty ImagesOur theme of Internet Infrastructure Stocks – which includes a diverse set of companies that sell hardware and software that underpin the Internet including server processors, graphics units, memory, and networking equipment - has fared very well this year, rising by 31% year-to-date, ...

JHVEPhoto Investment Thesis Micron (NASDAQ:MU) released their fiscal Q3 2024 results on Wednesday, reporting revenue and earnings that beat the expectations held by analysts. However, the stock price slumped by 6.5% in extended-hours trading following this earnings release. I believe the primary reasons for this negative market reaction are the lower-than-expected cash flow and the just in-line guidance for the current quarter. As I have been closely following Micron's cash flow performance, I somewhat ...

da-kuk/E+ via Getty Images Investment Thesis Micron's (NASDAQ:MU) stock triggered a 7% pullback despite a better-than-expected Q3 FY2024 earnings result. Its Q4 FY2024 guidance also topped the market consensus. Given the strong rally this year, the post-earnings selloff might be driven by consolidation or concern about a significant increase in capex impacting its FCF in FY2025. Nevertheless, MU's top-line growth trajectory has significantly reaccelerated since early this year, driven by price hikes and str ...

JHVEPhoto Micron (NASDAQ:MU) just dropped after reporting earnings, and we think this will trigger our buy-on-weakness signals because it has our proprietary Stocks In Demand or SID Buy Signal and is already in our 2024MP Model Portfolio. The charts below show the short-term Sell signal on the daily chart and the longer-term Buy signal on the weekly chart. MU is outperforming the Index on a trend basis, shown on our weekly chart below, and portfolio managers love that. We expect them to add to their pos ...

mcech We previously covered Micron Technology (NASDAQ:NASDAQ:MU) in April 2024, discussing why we had maintained our Hold rating, despite the excellent FQ2'24 earnings, promising FQ3'24 guidance, and numerous growth opportunities from the ongoing generative AI boom. With the stock pulling forward much of its upside potential and its dividend investment thesis underwhelming, we did not believe in chasing this stock over the cliff. Author Rating Seeking Alpha Well, we had rated MU as a Hold in four cons ...

Nvidia is no longer the only game in town when it comes to artificial intelligence (AI) hardware.I'm being facetious when I tell you to forget Nvidia (NVDA -0.36%). After all, how can you ignore a stock that soared nearly tenfold in just 18 months and now has a $3.1 trillion market cap, which accounts for 6.7% of the entire S&P 500 index? Not to mention, the company's chips are the driving force behind artificial intelligence (AI).However, the incredible run in Nvidia stock made it quite expensive, even rel ...

JHVEPhoto Despite the robust showing for F3Q24, Micron Technology, Inc.’s (NASDAQ:MU) post-earnings pullback continues to underscore the lack of durability to its valuation premium at current levels as expected. As discussed in our previous coverage, we believe Micron’s valuation upsurge over the past year continues to reflect AI-driven growth expectations that are beyond what the company is capable of delivering. Specifically, we believe Micron’s upsurge over the past year continues to reflect robust i ...

Thank you for standing by and welcome to Micron Technologies Fiscal Third Quarter 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you'll need to press star 11 on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press star 11 again. As a reminder, today's program is being recorded. And ...

Better than expected wasn't good enough.Shares of Micron Technology (MU -6.55%) tumbled on Thursday, falling as much as 7.9%. As of 3:15 p.m. ET, it had recovered somewhat, though the stock was still down 5.9%.The catalyst that sent the memory and storage chipmaker lower was the company's quarterly financial report.Robust resultsFor its fiscal 2024 third quarter (ended May 30), Micron generated revenue that surged 82% year over year to $6.8 billion, driving adjusted earnings per share (EPS) to $0.62, compar ...