History Suggests More Record Highs For This Chip Stock [Forbes]
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: Forbes
The shares of data concern Micron Technology (MU) are pulling back after touching a new all-time high of $93.10 earlier today, following a price-target hike from Mizuho to $100 from $92. The chip sector has been top of mind lately, with U.S. President Joe Biden signing an executive order to address the global chip shortage, which has impacted a number of industries that rely on the technology. What’s more, a historically bullish signal now flashing on the charts could catapult MU to even more record highs in the near future.More specifically, the security’s peak comes amid historically low implied volatility (IV), which has been a bullish combination in the past. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, there have been three other times in the past five years when MU was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) sat in the 20th percentile of its annual range or lower. This is the case with the security's curr
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MU
News
- Biden, Seeking to Build on Fruitful Week, Announces Billions in Chip Grants [The New York Times]The New York Times
- Micron's $6.1B CHIPS Act Funding Propels Major Expansion In US [Yahoo! Finance]Yahoo! Finance
- Huawei-led firms receive Chinese backing to build advanced AI chips: report [Seeking Alpha]Seeking Alpha
- Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants [The New York Times]The New York Times
- Biden to announce preliminary deal with Micron for up to $6.14 bln in chip grants [Reuters]Reuters
MU
Earnings
- 3/20/24 - Beat
MU
Sec Filings
- 4/25/24 - Form 4
- 4/23/24 - Form 4
- 4/22/24 - Form 4
- MU's page on the SEC website