"Shares of Micron ( NASDAQ: MU) are up about 14%, or by $31 this morning. All thanks to strong earnings. EPS of $4.78 beat by 82 cents. Revenue of $13.64 billion beat by $760 million. Moving forward, the company expects to earn between $8.22 and $8.62 per share, with revenue expected to be between $18.3 billion and $19.1 billion for the second quarter. Analysts were looking for $4.78 per share on revenue of $14.3 billion."
"Fueling further upside, Micron says supply-demand issues could create a $100 billion high-bandwidth memory (HBM) market by 2028 - a milestone projected to arrive two years before the company's previous outlook. Micron also declared a dividend of $0.115 per share, which is payable on January 14 to shareholders of record as of December 29. Broadcom Shares of Broadcom ( NASDAQ: AVGO) took a massive hit after management warned of margin pressures."
"With an overweight rating on AVGO, Morgan Stanley has a $462 price target on AVGO. They also believe the latest pullback is an overreaction. Analysts at Bank of America have a $500 price target with a buy rating. Goldman Sachs has a $450 price target with a buy rating. UBS has a $472 price target with a buy rating. And Bernstein has a $475 price target with an outperform rating."
Micron reported EPS of $4.78, beating estimates by $0.82, and revenue of $13.64 billion, beating by $760 million. The company forecasted Q2 EPS between $8.22 and $8.62 and revenue of $18.3–$19.1 billion. Micron projected a potential $100 billion HBM market by 2028 and declared a $0.115 per share dividend payable January 14. Broadcom shares fell after management warned of margin pressures. Multiple major analysts maintained buy/overweight ratings and high price targets on Broadcom, describing the recent pullback as an overreaction and noting technical oversold conditions.
Read at 24/7 Wall St.
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