Micron Technology

Micron’s stock rose about 670% over the past twelve months. For Q3 the company reported record revenue of $41.46 billion and gave an optimistic Q4 outlook of $50 billion in revenue and roughly an 86% gross margin. At the core of the revaluation are 16 multi-year Strategic Customer Agreements that are intended to secure about 20% of DRAM and one-third of NAND volumes through 2026–2030 and to create price floors via deposits of around $22 billion. The expected P/E ratio of about 6.4 is well below the PHLX Semiconductor average; analysts are mostly positive, but risks remain from potential Chinese competitors and the question of whether memory will be traded sustainably as more than a commodity. » Altro su finanzen.net

Micron elevated Manish Bhatia to president and chief operating officer and Scott DeBoer to president and chief technology and products officer, while CEO Sanjay Mehrotra remains in place and Sumit Sadana moves to senior advisor to the CEO. Analysts at KeyBanc said the new structure should streamline customer relationships, operations and manufacturing, though they do not view the changes as material drivers of the stock. Micron's near-term performance will still depend on the durability of the memory supply-demand cycle. » Altro su cnbc.com

Stanley Druckenmiller’s Duquesne Family Office, according to a 13F filing, sold all Micron shares in the second quarter after the stock rose more than 300% in the first half. Observers draw parallels to his earlier sale of NVIDIA, which he called a mistake, but analysts remain mostly positive on Micron despite the exit. A 13F is only a snapshot; whether the exit was premature depends on the further development of the memory cycle and the quarterly results on September 29. » Altro su finanzen.net