The Zacks Analyst Blog Highlights: Facebook, Netflix, AbbVie, American Airlines and Micron Technology

For Immediate Release

Chicago, IL – December 3, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Facebook, Inc. FB, Netflix, Inc. NFLX, AbbVie Inc. ABBV, American Airlines Group Inc. AAL and Micron Technology, Inc. MU

Here are highlights from Wednesday’s Analyst Blog:

Top Stock Reports for Facebook, Netflix and AbbVie

The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Facebook, Netflix and AbbVie. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Facebook shares have outperformed the Zacks Internet – Services industry in the year-to-date

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Micron Technology Raises First-Quarter Profit and Sales Guidance

Micron Technology  (MU) – Get Report was climbing Tuesday after the maker of memory chips raised its first-quarter guidance.

Shares of the Boise, Idaho-based company were rising 5.12% to $67.38 at last check.

Micron raised its guidance range for adjusted earnings per share for the quarter to 69 cents to 73 cents from 40 cents to 54 cents, for revenue to $5.7 billion to $5.75 billion from $5 billion to $5.4 billion, and for reported gross margin to 28.5% to 29.5% from 25.5% to 27.5%.

Analysts surveyed by FactSet called for first-quarter earnings of 51 cents a share and revenue of $5.3 billion.

Micron President and CEO Sanjay Mehrotra is scheduled to share further updates at Tuesday’s Credit Suisse Annual Technology Conference, Micron said in a statement.

Separately, Wells Fargo analyst Aaron Rakers raised his price target on Micron shares to $75 from $65, while keeping an overweight

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Kohl’s, Micron Technology rise; Zoom, Peloton fall

Kohl’s Corp., up $4.32 to $36.52.

Sephora will be replacing cosmetics areas in the retailer’s stores, starting with 200 locations late next year.

Tesla Inc., up $17.16 to $584.76.

Tesla’s inclusion in the S&P 500 index will be made on a single day, rather than over two days as had been considered.

CSX Corp., up 57 cents to $90.62.

The railroad is buying regional operator Pan Am Railways to bolster its network in the northeastern U.S.

Pfizer Inc., up $1.10 to $39.41.

The drug developer’s coronavirus vaccine could gain European approval within four weeks.


Alcoa Corp., up $1.93 to $21.83.

The aluminum producer is selling its rolling mill business to Kaiser Aluminum Corporation for about $670 million.

Micron Technology Inc., up $2.99 to $67.08.

The maker of computer memory and data storage products raised its fiscal first-quarter profit and revenue forecasts.

Peloton Interactive Inc., down $4.32 to $112.03.

The fitness

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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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Here’s Why Micron Technology Stock Jumped Today

What happened

Shares of Micron Technology (NASDAQ:MU) were trading 6.2% higher by 11:50 a.m. EST, boosted by a fresh set of guidance targets for the first quarter of fiscal year 2021. The memory chip giant’s stock had risen as much as 7.1% in earlier trading.

So what

The midpoint of Micron’s revenue guidance was boosted from $5.2 billion to $5.73 billion. Gross margins are turning out to be wider than expected. Micron’s adjusted first-quarter earnings are now seen landing near $0.71 per share, up from $0.47 per share. Analyst estimates were roughly in line with Micron’s guidance midpoints.

The new guidance figures work out to a 48% year-over-year earnings boost and revenue growth of approximately 12%.

A large number of arrows pointing upward, rendered on top of a circuit board in shades of blue.

Image source: Getty Images.

Now what

Micron’s surprisingly strong results rested mostly on huge demand from data center customers. This way, Micron taps into the rising demand for cloud-based services amid the ongoing COVID-19

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Micron Technology, Inc. (MU) Management on Roadmap and Strategy Conference Call Transcript

Micron Technology, Inc. (NASDAQ:MU) Roadmap and Strategy Conference Call November 30, 2020 4:00 PM ET

Company Participants

Farhan Ahmad – Vice President, Investor Relations

Scott DeBoer – Executive Vice President of Technology & Products

David Zinsner – Chief Financial Officer

Conference Call Participants

C.J. Muse – Evercore

Harlan Sur – JPMorgan

Timothy Arcuri – UBS

Joe Moore – Morgan Stanley

Aaron Rakers – Wells Fargo

John Pitzer – Credit Suisse

Steven Fox – Fox Advisors

Mehdi Hosseini – SIG

Karl Ackerman – Cowen

Operator

Good afternoon. My name is Dilam [ph] and I’ll be your conference facilitator today. At this time, I would like to welcome everyone to a Presentation and Q&A Session with Scott DeBoer Micron’s EVP of Technology and Products. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer period. [Operator Instructions] Thank you.

It is

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20% Downside For Micron Technology Stock?

Micron Technology stock (NASDAQ: MU) is up 16% since the beginning of this year, but at the current price of around $63 per share, we believe that Micron stock has more than 20% potential downside.

Why is that? Our belief stems from the fact that Micron stock is still up almost 100% from the low seen at the end of 2018, almost 2 years ago. Further, after posting weak Q4 2020 numbers, and with demand still not up to pre-Covid levels, we believe Micron’s stock could drift lower. Our dashboard What Factors Drove 96% Change In Micron Technology Stock Between 2018 And Now? provides the key numbers behind our thinking, and we explain more below.

Micron stock’s rise since

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Stock Market Today With Jim Cramer: Buy Tesla and Micron

Stocks rose Monday as investors welcomed further progress on the development of a coronavirus vaccine but remained cautious amid rising infection rates and worries that curbs on businesses to stem the spread of the virus could hamper economic recovery.

The Dow Jones Industrial Average rose 231 points, or 0.79%, to 29,494, the S&P 500 gained 0.3% and the Nasdaq was up 0.17%.

TheStreet’s Katherine Ross discussed breaking news in the stock market. Cramer spoke about Tesla, Micron, and vaccine rollouts.

Tesla: Buy Or Sell?

Tesla  (TSLA) – Get Report traded higher on Monday after the electric carmaker received another upgrade, this time from Wedbush Securities’ Daniel Ives, who lifted his one-year price target to $560 from $500 and said his new bull case is $1,000, up from $800.

Cramer said Tesla has the possibility of being a major technology company that also makes cars. “I think there is

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Micron Technology (MU) Nears Major Breakout

Micron Technology, Inc. (MU) stock has woken up from the dead and is now challenging 2018’s multi-decade high in the mid-$60s. Accumulation has already risen above its 2018 peak, setting the stage for a breakout that clears the last major hurdle before July 2000’s all-time high in the upper $90s comes into view. However, a rally into that lofty level will require another 50% upside, taking as long as two to four years depending on market conditions.

Key Takeaways

  • Micron stock is testing 2018 resistance in the mid-$60s.
  • The company has underperformed semiconductor benchmarks in 2020.
  • A breakout predicts a rapid advance into the upper $70s.
  • The stock is still trading more than 30 points below the 2000 internet bubble high.

The stock has underperformed PHLX Semiconductor Index (SOX) by a wide margin in 2020, gaining around 15% compared to SOX’s 39% year-to-date return. Micron is also one of the

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Seth Klarman Bets on Micron Technology

– By Dilantha De Silva

Seth Klarman (Trades, Portfolio) is often compared to Warren Buffett (Trades, Portfolio) because of his track record of successfully identifying unpopular value stocks. For this reason, many investors follow the guru to get insights on unloved stocks that have the potential to deliver multi-bagger returns in the coming years.

According to the third-quarter 13-F filing of the Baupost Group LLC, the guru has entered new long positions in Pershing Square Tontine (NYSE:PSTH) and Micron Technology (NASDAQ:MU). The investment in Micron is currently valued at $245 million, which gives it a portfolio weighting of just over 2.6%.

Seth Klarman Bets on Micron Technology
Seth Klarman Bets on Micron Technology

Source: GuruFocus

The semiconductor industry is highly cyclical and investing in a leading chip company right before operating conditions improve could lead to very attractive returns. An evaluation of the prospects for the industry and Micron’s valuation levels suggest both value and growth

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