Jon Fortt, on CNBC, has discussed the details regarding Micron Technology, Inc. (NASDAQ: MU) stock reports. He mentioned that Micron Technology, Inc. (NASDAQ: MU) stock went up after an hour and expectations were pretty high. He compared the Q3 expected EPS of $0.70 against the reported $0.79 which is higher. Company revenues also were higher in Q3 $3.98 billion, compared to expected $3.89 billion.
Fortt also mentioned the expenses of Micron Technology, Inc. (NASDAQ: MU) under control. SG&A costs of $174 million (expected from $170 million to $180 million) and R&D costs at $349 million (expected from $345 million to $355 million). Fortt added that Micron Technology, Inc. (NASDAQ: MU) capex of $576 million seems to be well in line with the expectations. Fortt feels that Micron Technology, Inc. (NASDAQ: MU) is just doing what investors are looking for, expenses under control, higher revenues and stocks going up.
“Fast Money” trader, Steve Grasso, spoke to CNBC and shared his instant analysis on Micron Technology, Inc. (NASDAQ: MU)’s quarterly numbers. When Grasso was asked about what he feels about Micron Technology, Inc. (NASDAQ: MU) share price going up and what will be the situation tomorrow, he answered that Micron Technology, Inc. (NASDAQ: MU) has been a favorite stock in the investment community.
Grasso said that thinking about Micron Technology, Inc. (NASDAQ: MU) people point to DRAM pricing, but since the Elpida ‘s takeover of this segment, Micron Technology, Inc. (NASDAQ: MU) started focusing on NAND Flash which is used in mobile devices. So Grasso feels that this may not be just due to DRAMP. He feels that Micron Technology, Inc. (NASDAQ: MU) are placing another leg into the market, which expands their stock values.
He also points to the fact that PC’s are not as bad as everyone as Intel had pointed out, so this is also having another push into DRAM sales, which may be another cause for this stock value raise. He finally concluded saying that
“Anyone who has bet against Micron going higher it has been a losing bet for quite some time”.
Disclosure: None
