Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Micron shares jump on forecast for quicker chip recovery.

A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration t... A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration t... A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration

Listen to the article now

Micron shares jump on the forecast for a quicker recovery in chip demand. Micron Technology (MU.O.) shares rose 6.3% before the bell on Thursday after it forecasted a strong 2024 memory and flash storage supply-demand balance recovery.

The company’s quarterly earnings on Wednesday exceeded market forecasts and anticipated an excellent February quarter, indicating that memory chip prices will return from a months-long decline next year.

Micron said data center stocks will attain normal levels in the first half of 2024, while most of its personal computer, mobile, automotive, and industrial clients have average stock. “Market rebounds are happening earlier than we previously thought,” Morningstar analysts stated.

Micron’s strong quarter-end earnings and projection bolstered optimism for other semiconductor makers reporting early next year, raising their shares.

Premarket gains were roughly 1% for Nvidia, AMD, Qualcomm, Intel, and Broadcom. Micron also stated it was in “the final stages” of qualifying its high-bandwidth memory chips for Nvidia’s most capable AI platforms.

Micron said its most profitable products, high-end memory chips, will generate “several hundred million” dollars in fiscal 2024.

Analysts anticipate Micron will recover from AI demand.

Piper Sandler analysts said rising chip demand is “likely to be a tailwind for MU (Micron) for at least the next 2 quarters and likely longer.”.

LSEG data indicated that three brokerages upped price targets after the results. Micron has a 12-month price-to-earnings ratio of 32.45, compared to the industry’s 21.03.


Comment Template

You May Also Like

Business

MSG Networks has returned to Optimum after a nearly two-month blackout, restoring Knicks and Rangers coverage for frustrated fans. The new deal places MSG...

Business

Alphabet has introduced **Premium Lite**, a lower-cost YouTube subscription offering ad-free videos (excluding music). This move aims to expand YouTube’s subscriber base and reduce...

Business

India has been named the best solo travel destination for 2025 by Kensington, thanks to its rich culture, history, and diverse experiences. From the...

Business

Warren Buffett's Berkshire Hathaway has aggressively sold stocks, amassing a record $334 billion in cash. Major divestments include Apple and Bank of America, while...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok