Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (53586)	1/9/2021 8:19:29 AM
From: Johnny Canuck	1 Recommendation Recommended By Return to Sender Read Replies (1) \| Respond to of 69749

MAD MONEY Micron Technology is in the ‘sweet spot’ of digital transformation, CEO says PUBLISHED FRI, JAN 8 20218:14 PM EST Tyler Clifford @_TYLERTHETYLER_ SHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email KEY POINTS “We are absolutely in a sweet spot of the market trends and we are very well positioned to address them,” Micron Technology CEO Sanjay Mehrotra told CNBC.The comments come after the company reported better-than-expected results in the first quarter report of its 2021 fiscal year.“We are absolutely excited about 2021 and post-Covid. The synchronized expansion of the global economies is going to continue well into 2022 timeframe as well,” he said. WATCH NOW VIDEO01:53 Micron Technology CEO: Tightness in DRAM market presents growth opportunity Memory and storage are integral to digital transformation, which will serve as a key business driver for Micron Technology through 2022, the memory-chip producer’s CEO Sanjay Mehrotra told CNBC Friday. While enterprise adoption of digital technology was accelerated by the workplace shift due to the coronavirus pandemic, Mehrotra projects that the need for faster data processing will be critical for future expansion of global economies. “We are absolutely in a sweet spot of the market trends and we are very well positioned to address them,” he said in a “ Mad Money” interview with Jim Cramer. The comments come one day after the Boise, Idaho-based company released better-than-expected results in its first quarter of the 2021 fiscal year. Micron earnings came in at 78 cents per share, 7 cents above estimates, on revenue of $5.77 billion, up 12% from a year ago. Analysts projected revenue of $5.66 billion for the quarter ending Dec. 3. Micron also cited the state of the dynamic random access memory chips (DRAM) market as a source of its upbeat guidance for the current quarter. The DRAM business, which supplies chips to store data in a memory cell, grew almost 17%. At a time where demand for artificial intelligence, 5G and cloud, which all require more data processing, is high, the memory industry is experiencing tightness in areas of the DRAM market, according to Mehrotra. Micron counts Arrow Electronics, HP, Apple and Huawei among its customers, according to FactSet. “For the first time in the history of the company, Micron is leading the industry in DRAM technology and as well as the NAND technology,” Mehrotra said in the interview Friday. “We are absolutely excited about 2021 and post-Covid. The synchronized expansion of the global economies is going to continue well into 2022 timeframe as well.” Shares of Micron slipped 2% to close at $77.42 after trading at session high price levels not seen since 2000. The stock gained nearly 40% in 2020.