MU, SNDK, DRAM Inch Higher Overnight After Mixed Week: Japan's Kioxia ...
π Micron (MU) and SanDisk (SNDK) stocks rose about 2.4% each in overnight trading after a week of mixed results for the chip sector.
π SanDisk shares fell 13.5% on Friday despite posting upbeat first-quarter numbers, marking its steepest decline in three months.
π At least five analysts lowered their price targets for SanDisk following its recent earnings report and forecast.
π―π΅ Competitor Kioxia Holdings crashed 15% after missing operating profit expectations of 2 trillion yen for the December quarter.
π‘ Kioxia attributed its weak momentum to shipment timing rather than demand deterioration, with orders shifted between quarters.
π Kioxia CFO Yoshihiko Kawamura stated the company expects to return to rapid growth in the March quarter.
π€ Demand from AI data center operators remains robust for memory chipmakers despite recent quarterly misses.
π Retail sentiment on Stocktwits was 'bearish' for Micron (MU) while being 'extremely bullish' for SanDisk (SNDK).
π° Traders speculated that Micron could announce a 1:5 stock split at its upcoming earnings report.
π The Roundhill Memory ETF (DRAM) advanced 2.7% alongside the individual memory chip stocks.
- Micron (MU) and SanDisk (SNDK) stocks rose about 2.4% each in overnight trading, indicating some market resilience despite a challenging week.
- The Roundhill Memory ETF (DRAM), which includes Micron, advanced 2.7%, suggesting continued investor interest in the memory sector.
- Retail sentiment on Stocktwits was classified as 'bearish' for Micron (MU), contrasting with the bullish sentiment for SanDisk.
- Traders speculated that Micron could announce a stock split at its upcoming earnings report, implying potential volatility or lack of immediate price appreciation.