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Micron Technology, Inc. (MU)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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MU made a multi year high.
So, where are we going? If multiple expansion kicks in along with profitable growth and fundamentals, not saying this trades like WDC or AMD ... but where does this go? In it for a long time, and easily thought we'd be in the 100's 3 years ago; from pure cash flow metrics. But if the market is finally behind MU where does it go? Looking to jump off this cycle cause its a cyclical and don't want to carry back to 25 again.
MU hit its all time high today since 2000. $62.50. I'm not one who looks at historical company and stock performance as since 2000 the company has had many CEOs, executives, and products. So for those who say MU may peak like it did in 2000 and then drop, I say don't compare MU on a historical basis. Things have change.
*** Note: In today's world of extraordinary change, I would recommend that investors should not look at past performance of more then 2-5 years. Anything over that, really is not worth it. Most likely different CEO, different end markets etc.
In the 2000 timeframe MU mainly made DRAM for PCs and I believe there were hundreds of competitors. Ok, let's just say 20-30 competitors. Today we have main 2 in DRAM and 3-4 in NAND.
Today's market for MU is much more secular. The need for MU products are for PCs, laptops, Datacenter, Cloud, IoT, Security Camera's, traditional vehicles, the growing autonomous vehicle market, mobile, CP's, and so on. The demand for memory and storage is increasing exponentially. Newer technology advances in AI, VR/AR, machine learning, graphics all require more memory and storage. For each device sold like smartphones are shipping with more DRAM and NAND per unit.
If MU is trading at $60 and the projected EPS of $3.00-3.50 for this year, just think if MU EPS move up to $5.00-6.00 /share what MU stock price may be? 50% higher ($90)?, double $120? MU was making over and between $10-11/share back in 2018. I think there is a good chance that MU can be over $80 if MU can get back to over $4.50-6.00/share. That is only a 30% increase in the current $60 share price. But $90-100 is very likely over the next 6-18 months.
We'll see what happens. Good luck to all.
Hello ! Can I get some memory please . . . Nov. 19. Through 2025, GM will spend $27 billion on electric cars and autonomous vehicles, while launching 30 electric cars globally. That's up from prior targets of $20 billion and 20 new models. Ford is spending $11.5 billion on EVs and AVs by 2022.
Market consolidates today. MU had a big run and so it consolidates more than market. It is all normal.
Two upgrades today to $70. Just think, we are at the trough of an up cycle. Buy/Hold and let's see what the January 7th guidance tells us. They will beat and raise and that trend will continue throughout 2021.
This has been a good move for MU, glad to finally see.
Let's hope it holds and continues with news.
will surely cross $65 today. pull back didn't break the rising platform.
MU finally broke through $ 63.00 per share!!! Here comes $ 66.00!!! GO MU GO!!!
Congratulation to all longs!!!
The 2018 high of $64.66 is within reach. Hopeful the analysts are correct this time.
Nasdaq Futures UP, UP, UP again tonight ! What a week MU is having.
I ll say it again , just stay long. $65 is here. Next stop $85 plus as price of nand is usually up towards eoy and early to mid 2021. $100 likely.
Good come back. in the after hours, $65 + Possable Wednesday ?
looks like $72 is coming soon.
Get it now. Going to 85 in the next few months.
This is a momentum stock. Don't fight the tape!
Please, always hit the mute button when you see Cramers face. You will be glad you did!
MU outperform stock for coming year. Stay on course.
"This is the right time for AMD, not for MU". Jim Cramer. 11/23/20 @ 9:27AM. "MU missed last quarter".
IMO: MU is doing extremely well under the current market conditions, COVID supply chain, and the ban on China (Huawei) and the lost of 10% revenue ($600m). However, with the COVID now being more understood, supply chain issues being worked out, and the secular markets that DRAM/NAND are now in other than PC/Data Centers, MU should move up much higher in 2021.
The mobile market will continue to expand now that the iPhones (other as well) now have much more DRAM/NAND, iPads, IoT devices such as camera, door bells, speakers, etc. Auto Industry, Cloud, Data Center will also continue to expand.
One other thing, the 3 major suppliers have not expanded their capital so when the demand picks up, supply will not be there, so prices should go up. Sure, they will spend more capital to meet demand, but that of course will take time and I think they will be more responsible on capital to not over produce DRAM/NAND as they have found out that only hurts them and their competitors.
MU is in excellent financial shape. Has about $3.5B in net cash (after paying off debt), has had positive cash flow for years.
MU could move over $70 by March 2021 - that is only about 20% higher. I would think MU could see $75-85 in 2021. If the china band is lifted, these price targets will be even more likely.
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