Why Micron Technology Stock Can Break Higher From 20-Year Highs

Shares of Micron Technology (NASDAQ: MU) have shot up to 20-year highs this fall thanks to a couple of price target upgrades by Wall Street analysts, who predict that the memory specialist has more upside to offer on the back of higher demand from data centers and 5G smartphones.

Deutsche Bank and Mizuho Securities have raised their per-share price targets to $70, indicating an upside of around 10% from Micron’s current stock price. But it wouldn’t be surprising to see the memory specialist break higher and surpass Wall Street’s expectations. Let’s see why.

MU Chart

MU data by YCharts

A favorable DRAM environment will be a tailwind for Micron

Micron Technology gets most of its revenue from the compute and networking business unit (CNBU). This segment supplied nearly 43% of Micron’s total revenue in the previous fiscal year, but its performance wasn’t good enough, as revenue fell nearly 8% over the

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Guggenheim says it could invest up to $530 million in a bitcoin trust as the cryptocurrency flirts with new record highs | Currency News | Financial and Business News


  • Guggenheim Partners revealed in a Friday regulatory filing that its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust.
  • The trust solely invests in bitcoin, and a 10% bet from Guggenheim’s fund equates to roughly $530 million.
  • The filing comes as bitcoin climbs back above $19,000 after tumbling through the Thanksgiving holiday. Though the token has more than doubled through the year, it still trades below its 2017 record of $19,783.06.
  • Watch bitcoin trade live here.

Guggenheim Partners is the latest Wall Street firm to show interest in bitcoin, and a Friday regulatory filing signals the firm could make a massive investment in the soaring cryptocurrency.

Guggenheim revealed its Macro Opportunities Fund holds the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust, according to a Securities and Exchange Commission

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Nasdaq, S&P 500 notch new highs as investors bank on vaccine

New York  — U.S. stocks climbed to new heights on Friday during a shortened trading session, led by gains in technology companies that propelled the Nasdaq to a record-high close.



a man talking into a microphone: FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) as the building prepares to close indefinitely due to the coronavirus disease (COVID-19) outbreak in New York


© Lucas Jackson / REUTERS
FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) as the building prepares to close indefinitely due to the coronavirus disease (COVID-19) outbreak in New York

The S&P 500 also finished at an all-time high, scoring its third weekly gain in the past four weeks. Investors have been encouraged by progress in getting a coronavirus vaccine approved and distributed and hopefully halting the coronavirus pandemic’s grip on the global economy.

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“Alternating between ‘Walking on Sunshine’ and ‘Future’s so Bright I Gotta Wear Shades,’ the markets are looking forward to the impact of the vaccine and not at the high/rising Covid cases,” Paul Nolte, senior vice president at Kingsview

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Is This The Real Reason Bitcoin Has Suddenly Soared Toward Its All-Time Highs?

Bitcoin is back in the limelight after almost three years out in the cold, brushing up against its all-time high of around $20,000 per bitcoin this week.

The bitcoin price has risen nearly three-fold since the beginning of 2020, pushed on by unprecedented central bank money printing that’s highlighted its fixed limit and fresh interest from Wall Street and big-name investors.

Now, after payments giant PayPal
PYPL
revealed it would begin to support bitcoin buying and spending services last month, blockchain investment firm Pantera Capital has declared a “bitcoin shortage”—claiming PayPal is “already buying almost 70% of the new supply of bitcoins.”

MORE FROM FORBESBitcoin Has Suddenly Shot Toward Its $20,000 All-Time High But Now Might Not Be The Time To Buy-Here’s Why

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Emerging markets could break to all-time highs if the dollar breaches this level, Miller Tabak strategist says

Emerging markets have rallied this year, even keeping pace with the S&P 500 since the March low.

Why this investor advises portfolios should be exposed to China

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From that March 23 bottom, the EEM emerging markets ETF and S&P 500 have rebounded more than 63%.

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The group’s next move depends on the U.S. dollar, according to Matt Maley, chief market strategist at Miller Tabak.

“The DXY Dollar Index, even though it was selling off for quite a while, it actually stabilized a little bit the last four months, and it’s bounced off the $92 level four or five different times,” Maley told CNBC’s “Trading Nation” on Monday. “If you see a breakdown in the dollar below that $92 level, that’s going to help the small outperformance the emerging markets we’ve seen over the last six, eight months become much bigger.”

A weaker dollar

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Nasdaq surges as investors return to tech, crude ends off highs

By Stephen Culp

NEW YORK (Reuters) – Tech pushed the Nasdaq to close sharply higher and oil prices extended their rally on Wednesday, as hopes of potential COVID-19 were tempered by spiking coronavirus infections and the looming threat of a new round of lockdowns.

While the S&P 500 also advanced, the blue-chip Dow ended the session slightly in the red.

A return to technology-focused market leaders, which thrived during COVID shutdowns but sold off earlier in the week as investors pivoted to economically-sensitive cyclical stocks, put the Nasdaq out front.

“This week we saw a bit of rotation from growth back to value,” said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. “That we’re back to tech has to do with its oversold nature and there’s a sense of safety in heavily capitalized technology companies.”

Hopes for an end to the global health

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Stocks pull further below record highs as infections spread

NEW YORK (AP) — U.S. stocks pulled back on Thursday, amid increasing worries about worsening coronavirus counts across the country.

Markets around the world have taken a pause after galloping higher this month, at first on expectations that Washington will continue several pro-business policies following last week’s U.S. elections. More recently, encouraging early results for a potential COVID-19 vaccine have investors envisioning a global economy returning to normal.

The S&P 500 index lost 35.65 points, or 1%, to 3,537.01. The Dow Jones Industrial Average dropped 317.46 points, or 1.1%, to 29,080.17 and the Nasdaq composite lost 76.84 points, or 0.7%, to 11,709.59.

Analysts are still largely optimistic the market can climb even higher, largely because they see a potential vaccine as a game changer. Despite the declines, the S&P 500 and Dow are both close to their record highs. But several risks remain that could trip up markets in the

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D.C.-area forecast: Multiple days of highs in the 70s are still to come

Today (Saturday): Sweet sunshine and pleasant temperatures are both set to continue. There could be some patchy fog very early, especially south and near the water. Other than that, it’s a day with very few, if any, clouds. Much like yesterday, temperatures rise to the low and mid-70s. Winds are light from the south. Confidence: Medium-High

Tonight: It’s another great evening for getting out. You’ll want a layer or two as the sun goes down if dining outdoors. We could see a bit more in the way of fog tonight. Some chance it becomes relatively widespread by morning, but check back later on that. Lows are mainly in the 40s to around 50. Confidence: Medium-High

Follow us on Facebook, Twitter, and Instagram for the latest weather updates. Keep reading for the forecast through the weekend.

Tomorrow (Sunday): Some fog may be around in the morning, but it shouldn’t

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Analysis: High-flying U.S. tech stocks get post-election lift, near new highs

NEW YORK (Reuters) – A weaker-than-expected election performance by Democrats and fears of new coronavirus restrictions have prompted investors to double down on high-flying technology stocks, which have come roaring back in recent days to put the Nasdaq within striking distance of a record.

FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton/File Photo/File Photo

Since Election Day, the tech-heavy Nasdaq Composite is up 6.6%, easily outpacing the 4.2% gain in the broad S&P 500 over the same time. This was partly driven by investors and traders unwinding trades placed on pre-election assumptions of a Democratic sweep which they thought would usher in higher taxes and more regulation.

Polls had forecast Democrats would solidly win the presidency on Tuesday, extend their control in the House of Representatives and potentially win control of the

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High-flying U.S. tech stocks get post-election lift, near new highs

By David Randall



FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City


© Reuters/Shannon Stapleton
FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City

NEW YORK (Reuters) – A weaker-than-expected election performance by Democrats and fears of new coronavirus restrictions have prompted investors to double down on high-flying technology stocks, which have come roaring back in recent days to put the Nasdaq within striking distance of a record.

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Since Election Day, the tech-heavy Nasdaq Composite is up 6.6%, easily outpacing the 4.2% gain in the broad S&P 500 over the same time. This was partly driven by investors and traders unwinding trades placed on pre-election assumptions of a Democratic sweep which they thought would usher in higher taxes and more regulation.

Polls had forecast Democrats would solidly win the presidency on Tuesday, extend their control in the House of Representatives and potentially win control of the

Read More