Micron Stock Has Reclaimed $1,000—What Comes Next

巴伦周刊（Barron's），《巴伦周刊》（Barron's）官方站点，提供商业、金融与市场新闻及分析。关注

Micron Technology stock has risen nearly 700% in the past 12 months. (Photograph by Tomohiro Ohsumi/Bloomberg)

Key Points

Micron Technology stock closed up 6.1% at $1,016.59 on Friday, closing above the $1,000 mark for the first time since Aug. 17.
The company’s memory-chip rivals SK Hynix and Samsung Electronics rose 8.3% and 5.7%, respectively, in South Korean trading on Monday.
Micron is scheduled to report its fiscal fourth-quarter earnings on Sept. 30, with revenue projected to rise to $50.41 billion.

Micron Technology has pushed back above $1,000 a share. The memory-chip maker could be set for further gains in the run up to its earnings report late this month.

Micron closed up 6.1% at $1,016.59 on Friday, closing above the $1,000 mark for the first time since Aug. 17.

The stock wasn’t trading on Monday with markets closed for the Labor Day holiday. However, there could be positive signs in the movements of its Asian peers. Memory-chip rivals SK Hynix and Samsung Electronics rose 8.3% and 5.7%, respectively, in South Korean trading.

The next major event comes when Micron reports its fiscal fourth-quarter earnings, due Sept. 30. The company’s adjusted earnings per share are expected to rise to $30.89 from $2.84 for the same period a year earlier, while revenue is projected to rise to $50.41 billion from $11.32 billion, according to FactSet.

Barron’s previously argued Micron could double in price when it was trading around above $1,100.

Write to Adam Clark at adam.clark@barrons.com

添加评论

点踩

分享查看原文

参与讨论