Connect with us

uncategorized

Why Are Western Digital, Micron Shares Trading Higher Today?

Avatar

Published

on

FeedzySkip to main content

Share:

Lockdown measures to combat a Covid-19 resurgence in the Chinese city of Xian have affected chip-making facilities owned by Samsung Electronics Co Ltd (OTC: SSNLF), SCMP reports.

Samsung said it will “temporarily adjust operations” at its plants in the city and “take all necessary measures.”
Samsung’s two memory wafer fabrication plants in the city comprise 15% of the global NAND flash production capacity.
Other chip producers and users that could be affected by the news include Western Digital Corp (NASDAQ: WDC), Micron Technology I

nc (NASDAQ: MU), and Seagate Technology Holdings PLC (NASDAQ: STX).
While the scale and duration of any production loss are unknown, given disciplined NAND Flash vendor-held inventory levels, Wells Fargo analyst Aaron Rakers would view NAND production impacts as a positive for Western Digital and Micron. 
According to Trendfocus, Samsung’s two Xi’an NAND Flash fabs totaled 245,000 wspm capacity during Q3, equaling 42% of Samsung’s total NAND Flash manufacturing capacity and 15% of the full NAND Flash industry capacity.
Benchmark analyst Mark Miller said he believes Samsung’s report is driving up Western Digital’s shares, noting that Samsung has two NAND plants in the city. 
Shares of Western Digital competitors Seagate and Micron have been up to over 40% since mid-October. The improving memory chip prices, expectations for continued strength in cloud demand, and Micron’s expectations for a solid second half of 2022drove the momentum.
Miller reiterated a Buy and $92 price target on Western Digital.
Price Action: WDC shares traded higher by 6.03% at $66.62 on the last check Wednesday. MU shares traded higher by 3.58% at $96.26

Related Articles (WDC + SSNLF)

Mid-Morning Market Update: Markets Open Higher; US Goods Trade Deficit Widens To All-Time High

China Presses Alibaba To Design Chips

12 Information Technology Stocks Moving In Monday’s After-Market Session

9 Semiconductor Themes For 2022: Automotive Chip Shortage, Strong Cloud Demand, AI/ML Powering Metaverse And More

ASML Aims To Make Next-Gen Chips Below 3-Nm: All You Need To Know

Microsoft, Samsung Collaborate Over AR HoloLens Project

View the discussion thread.

Posted-In: News Price Target Reiteration Analyst Ratings Movers Tech Media Trading Ideas

Need newswire data?
Click here to see licensing options.

Latest Ratings

Stock
Firm
Action
PT
EIX
Argus Research
Maintains
73.0
CTAS
Argus Research
Maintains
490.0
BRG
Compass Point
Maintains
27.0
MEOH
Raymond James
Downgrades
MCD
Tigress Financial
Maintains
314.0
View the Latest Analytics Ratings

Subscribe to:

Benzinga Premarket Activity

Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.

Market in 5 Minutes

Everything you need to know about the market – quick & easy.

Fintech Focus

A daily collection of all things fintech, interesting developments and market updates.

SPAC

Everything you need to know about the latest SPAC news.

Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Article: benzinga.com

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

uncategorized

Will You Sell Your Dogecoin If It Reaches $0.50 (Again) in 2022? Over 75% Say…

Avatar

Published

on

Feedzy

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to Benzinga visitors: Will you sell your Dogecoin (CRYPTO: DOGE) if it reaches $0.50 in 2022?

Since early 2021, it’s no secret Dogecoin’s price has risen or fallen in sympathy with both the price of Bitcoin (CRYPTO: BTC) and tweets by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk. Heavy support for Dogecoin, by Musk, might give the meme crypto a shot at reaching $0.50 in 2022.

Back on May 8, 2021, Dogecoin reached an all-time high of $0.7376 in anticipation of Musk’s appearance on Saturday Night Live. The meme crypto is since trading lower by 81.7%. 

Here are the full results from this week’s survey:

Yes, I will sell my Dogecoin if it reaches $0.50: 75.3%
No, I will not sell my Dogecoin if it reaches $0.50: 24.7%

This sentiment study was conducted amid another active week of trading, which saw the meme cryptocurrency fall by over 28%.

At the time of publication, Dogecoin was trading around $0.1338, down 11.2% in the past 24 hours.

See Also: Dogecoin Vs. Shiba Inu

This survey was conducted by Benzinga in January 2022 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.

Source: benzinga.com

Continue Reading

uncategorized

Apple Poised to Outperform Expectations in December Quarter, Analyst Says: How Will Shares React?

Avatar

Published

on

Feedzy

Notwithstanding supply constraints, an analyst at Morgan Stanley is positive about Apple Inc.’s (NASDAQ:AAPL) December quarter performance.

The Apple Analyst: Morgan Stanley analyst Katy Huberty has an Overweight rating and a $200 price target for Apple shares.

The Apple Thesis: Cupertino is likely to post upside to Street forecasts for the December quarter and guide to a relatively in-line March quarter, thanks to improving iPhone production into year-end and modest Services outperformance, Huberty said in a note. Since hitting a low on Oct. 4, Apple’s shares are up 19%, suggesting the December quarter upside is largely priced in, she added.

The analyst models December quarter revenues of $122.3 billion, a 41.9% gross margin and $1.97 per share in earnings. Apple’s management will likely shed light on its active device and iPhone installed base, the analyst said.

Among products, Apple may have shipped 83 million units of iPhones, 7.6 million units of Macs and 14.9 million units of iPads, Huberty said. The analyst estimates total product revenues of $103.1 billion, which is above the consensus estimate of $100.3 billion.

Services revenue is likely to come in at $19.2 billion, also above the consensus estimate of $18.6 billion, Huberty said. The upside is due to stronger-than-expected App Store performance and Apple’s Licensing & Other segment, she added.

Given the sustained presence of COVID-19, management is unlikely to offer a revenue guidance range for the March quarter and instead will likely provide commentary on segment growth trends, she noted.

Related Link: Apple Becomes First Company To Top $3 Trillion Market Cap; Analyst Says Rally Has Further Legs

Apple shares have underperformed thus far in January after December’s outperformance, the analyst said. Apple is expected to release the iPhone SE3 in April/May this year, the iPhone 14 in Fall 2022 and a mixed reality headset in 2023, Huberty noted.

Morgan Stanley said it would be a buyer on any weakness post-earnings, as it views Apple as a more “defensive/quality outperformer” in challenging markets. The company’s 1.65 billion+ installed base with high loyalty/retention rates, underweight institutional positioning, along with strong capital returns and the tendency for it to outperform ahead of product cycles make the firm positive on Apple stock, Morgan Stanley noted.

AAPL Price Action: Apple shares were down 2.10% to $162.41 at market close Friday.

Original Article: benzinga.com

Continue Reading

uncategorized

Bitcoin May Be Plunging Hard, but Look Who’s Buying the Dip

Avatar

Published

on

Feedzy

The sell-off seen in the crypto space is continuing into the weekend, and Bitcoin (CRYPTO: BTC), the apex crypto, is no exception. Bitcoin-backer and El Salvador President Nayib Bukele, unsurprisingly, is seeing the weakness as a buying opportunity.

What Happened: Bukele said in a late Friday tweet that the country has purchased an additional 410 Bitcoins for $15 million, the nation now holds over 1,500 BTC. The president also suggested that some current sellers are liquidating at throwaway prices.

The tweet was in reply to his own Jan. 14 tweet, in which Bukele indicated that he might have missed the dip at the time.

The tweet elicited mixed responses. One Twitter user said Bukele wasted over $36,500 per Bitcoin and suggested that if the president wants to make bad bets on Bitcoin, he should be doing so with his own money. He challenged Bukele to disclose his personal Bitcoin holdings.

Meanwhile, another user supported the Bitcoin purchase and said the president is seeing the big picture, while others don’t understand Bitcoin is a long-term asset.

Related Link: Bitcoin Slips Below Crucial $40K Level, Taking Ethereum, Dogecoin Down With It: US Treasuries, Russia, Outflows And More That’s Weighing

Why It’s Important: After seeing a downtrend since hitting a high in early November, Bitcoin has come under further pressure in the new year. Since the start of the year, the apex currency has lost over 20%, implying it is sinking further into bear market territory.

El Salvador has the distinction of being the first country to adopt Bitcoin as legal tender, alongside the U.S. dollar, on Sep. 7, 2021.

At the time, Bukele reasoned the move would spur investment in the country and come in handy for 70% of its citizens, who don’t have access to traditional financial services. The country has also made plans to build a Bitcoin city, financing the construction by the issuance of a $1 billion Bitcoin Bond.

BTC’s trajectory in the near- to midterm will determine the success of the country’s Bitcoin strategy and whether Bukele will be vindicated. At last check, Bitcoin was seen down 7.56% in the past 24 hours to $35,486.19.

Related Link: How to Buy Bitcoin

Photo: Courtesy Blockzeit CH on Flickr

Source: benzinga.com

Continue Reading

Trending

WVPU.com