|Bid||48.11 x 1300|
|Ask||48.12 x 800|
|Day's Range||47.08 - 48.72|
|52 Week Range||31.13 - 61.19|
|Beta (5Y Monthly)||1.63|
|PE Ratio (TTM)||23.60|
|Earnings Date||Jun 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||May 07, 1996|
|1y Target Est||61.56|
U.S. stocks were largely flat on Thursday, with the S&P 500 holding at near three-month highs as investors paused after a three-day rally, weighing hopes of a swift economic recovery against underlying tensions between United States and China. Boeing Co climbed 3%, the most among the 30 blue-chip Dow components, as the planemaker said it had resumed production of its 737 MAX passenger jet at its Washington plant, although at a "low rate". The benchmark S&P 500 managed to close above the key 3,000 mark on Wednesday as growing evidence of a pickup in business activity and massive amounts of stimulus drove hopes of an economic recovery.
Futures contracts for the S&P 500 were largely flat on Thursday as investors weighed hopes of an economic recovery against underlying tensions between the United States and China. Chipmakers, which are sensitive to China's growth, were under pressure, with Intel Corp and Advanced Micro Devices Inc dropping about 1% each in premarket trade. President Donald Trump has promised action over China's new national security legislation for Hong Kong by the end of the week.
What would you tell someone if they were to ask you, “Should I buy Micron (MU) right now?” For Rosenblatt's Hans Mosesmann the answer is quite clear — the 5-star analyst sees this stock as a flower that keeps blossoming. In fact, Mosesmann goes as far as to consider Micron “one of our top 3 picks for 2020.” Following a chat with Micron's MBU (mobile business unit) manager, Mosesmann cites some key takeaways which have only added to his bullish sentiment: * As 5G networks become more prevalent around the world, 5G phones will bring significant advances in performance (20x faster downloads), latency (10x lower), and density (10x more devices per kilometer), all driven by Micron tech. * With the 5G cycle taking its first steps, Micron projects sales of 5G phone units for 2021 to hit roughly 450 million and expand over the next few years. Accordingly, the company expects 5G 2020 bit growth for DRAM (memory) to hit 15% and NAND (storage) to increase by 30%. * Because of 5G backups from 4G phones, new game apps, and their ability to process hi-resolution content DRAM and NAND requirements will increase between 33% and 100% in 5G when compared to 4G.All of which leads Mosesmann to argue Micron is “leading the industry in key categories, and the MBU business is now cross-cycle profitable.” In summary, the analyst noted, “At a high level, Micron is making the case that even in one of the worst market segments to get hit by COVID-19 dynamics, 5G phone memory/storage content will grow meaningfully in 2020 and drive bit demand.”To this end, Mosesmann reiterates a Buy rating on Micron shares, with a $100 price target target in mind. Investors can expect upside of a massive 102%, should the analyst’s thesis play out over the coming months. (To watch Mosesmann’s track record, click here)As for the rest of the Street, the bulls have it. Micron's Moderate Buy consensus rating breaks down into 19 Buy ratings, 5 Holds and single Sell received in the last three months. The $62.66 average price target suggests shares could surge ~27% in the next year. (See Micron stock analysis on TipRanks)To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.