Micron Technology (MU) reported fourth quarter earnings, surpassing expectations on the top and bottom lines. However, the enterprise’s weaker-than-expected outlook disappointed investors, triggering a downturn in the semiconductor sector and dragging chip equities lower in Thursday’s trading session.
CFRA Research senior field analyst Angelo Zino and Bloomberg Intelligence analyst Jake Silverman join the Morning Brief to dissect these results and their implications.
Zino attributes the muted reaction in Micron’s share price post-results to the “beat and raise” scenario that unfolded last quarter. He notes that there was “a little bit of an expectation” for another impressive performance this time around. Despite falling short of these lofty expectations, Zino highlights strengths in areas such as pricing and margins. “Overall, it’s somewhat of a mixed picture, but Micron is… trending in the right direction here,” Zino told Yahoo financial.
Despite the underwhelming results, Silverman maintains that Micron’s “fundamentals remain pretty positive.” He expresses optimism about the enterprise’s AI-related expansion potential, even though it wasn’t evident in this quarter’s results. Silverman emphasizes that AI integration is still in its “early stages” at Micron, suggesting that the semiconductor enterprise stands to be “a particularly strong beneficiary” of the ongoing AI boom.
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