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Technology Stocks : Semi Equipment Analysis
SOXX 309.40+1.0%Dec 5 4:00 PM EST
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Sam
To: Donald Wennerstrom who wrote (81206)9/20/2018 8:45:27 PM
From: Donald Wennerstrom2 Recommendations   of 95531
 
Just to document the action of Micron today in chart format, 20 Sep 2018, when AH 4th Quarter and FY18 earnings were reported and a webcast was presented by Micron on the results and future outlook.

As shown in the header, during regular trading hours Micron finished up +1.00(+2.2%). When the first announcement was made about outstanding results for the quarter and year, the price rose very nicely and then part way into the presentation, Micron announced that the earnings estimate for the next quarter was down slightly from the consensus estimates of analysts. Specifically,
On the company's earnings conference call, Micron Chief Financial Officer Dave Zinsner forecast fiscal first-quarter earnings of $2.88 to $3.02 a share on revenue of $7.9 billion to $8.3 billion. Analysts surveyed by FactSet had expected earnings of $3.08 a share on revenue of $8.45 billion.

This is all it took for Micron to make a big run to the downside. In AH it finished down -3.25(-7.06%). Taking the midpoint of Micron's earnings projection at 2.95 and comparing to the expected 3.08, the difference is down -0.13(-4.2%).

The bears are licking their chops tonight.

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