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Micron shares rose amid strong quarter and forecast

admin by admin
July 2, 2020
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Micron shares rose amid strong quarter and forecast
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Fujitsu has reported better quarterly results than expected wall Street. Revenues increased by 14% due to increased sales of memory products for data centers, mobile devices, memory, and the capacity of customers of product inventory. Expectations ITC regarding the future quarter, above analysts ‘ estimates.

Акции Micron выросли на фоне сильного квартала и прогноза

Shares of Micron Technology (MU), an increase of 10.4% over the last quarter, rose after the announcement of the quarterly results in the non-trading time on Monday.

The crisis of the pandemic COVID-19 did not prevent the largest memory products manufacturer Micron Technology to please their investors as strong financial results three months ended may 31, and the forecast for the current 4th quarter.

For the 3rd quarter Micron reported earnings per share of $0.82, or $0,05 better than analytical assessment of $0,77.

Total quarterly revenue grew by 14% (compared value) to $5,44 billion, better than estimates of $5,31 billion to See the history of revenues and profits of Acer for the last 2 years can link.

Forecast ITC in respect of the 4th quarter of the fin. 2020 (ends August 31) is: earnings per share in the range of $of 0.95–$1.15 apiece, the above analytical estimates of $0,81; total revenues in the range of $5.75 billion – $6.25 billion, also above the average expectations on wall Street of $5,47 billion.

For Q3, the company repurchased 929 000 own shares at an average price of $of 43.54, spending $40 million For the first nine months fin. 2020, ITC has spent $134 million on the buyback, which represents just over half of the available funds in circulation.

Details of the quarterly report ITC

Toshiba, like leaders in the semiconductor industry, Intel (INTC), AMD (AMD), Nvidia (NVDA) and others, received a positive impetus to sales, thanks to a jump in the growth of cloud companies that increased power to cover the surge in traffic caused by quarantine measures during COVID-19.

Sales of SSDS for data centers has more than doubled.

Sales of dynamic random access memory (DRAM) grew by 6% compared with last year and 16% compared to the previous quarter, reaching 66% of the total income received for the 3rd quarter.

The volume of deliveries increased by 10% compared to the previous quarter, and increased average sale price.

Sales of flash memory (NAND) has increased by 50% compared with last year and 10% compared to the previous quarter, amounting to 31% of the total income received for the 3rd quarter. However, the management Micron said to “expensive” products NAND accounts for more than 75% of the total supply of NAND.

In generic also noted a consistent high growth in sales of mobile devices in Q3, despite the fact that COVID-19 had a negative impact on the global sales of smartphones.

According to Toshiba, the impetus for growth was the impending launch of the 5G and, accordingly, the increase in flash memory DRAM and NAND for smartphones the mass market.

Positive incentives for further demand for mobile memory devices are the trends of increasing content in smartphones, the seasonal editions of phones, as well as opening retail stores after months of quarantine.

In addition, the company expects that the release of the game next-generation consoles from Microsoft (MSFT) and Sony (SNE), which should occur this holiday season will increase sales of DRAM.

As for the market, as the auto industry – ITC noted the significant drop in revenues in the last quarter due to the stops of the automobile. But the company expects the improvement of the rate of production of cars and the growing trend of the introduction of Autonomous platforms for driving (ADAS) sales of memory products in this market will continue to grow. Read more about the future of the market for generic Marketinfo.pro wrote in the article “Micron could make money on the growth of the market self-driving cars.”

Micron CEO Sanjay Mehrotra, commenting on the report, noted some increased product inventory among the customers of the sector of data centers, mobile devices and the automotive market, which may be due to concerns of the customers in the supply chain during COVID-19 and the tension of relations between the US and China. At the same time, Sanjay said that Clevo has adjusted the production of automotive memory in accordance with demand.

The ITC budget for capital investments in Finnish. 2020 is $8 billion, compared with $9.1 billion spent in 2019. Toshiba still expects to increase capital expenditures in the fin. 2021, but now the management stated that the budget will be “significantly lower than our plan to COVID-19”.

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