Micron Technology stock, which touched a new 52-week high of $52.36 on Monday, is continuing its rally today, driven by the promising prospects of DRAM technology as well as the new finance chief taking charge.
The company had appointed President and COO of Affirmed Networks David Zisner as new finance chief after the retirement of Ernie Maddock.
The Boise, ID-headquartered company is investing largely in the R&D of second-generation storage products, including DRAM and NAND flash memory as well as CMOS image sensors.
Micron is also currently researching on the quad-level cell flash drives, which the company is planning to release later this year.
Samsung is currently the top seller of NAND flash memory, with a market share of 37.2% in the third quarter of 2017, followed by Toshiba and SanDisk/Western Digital each with 17.5% share. This is followed by Micron (12.9%), SK Hynix (9.9%) and Intel (6.6%), according to a Statista report.
Favorable pricing environment for flash and DRAM had helped Micron lift its guidance for the second quarter of 2018. Micron’s revenue is expected to be $28.51 billion in 2018, according to HADE Platforms machine learning. Over 60% of Micron’s revenue comes from DRAM sales to the personal computer market.
Micron is also currently researching on the quad-level cell flash drives, which the company is planning to release later this year.
Micron is expected to release second quarter results on March 22 and market analysts expect the strong demand and tight supply for memory chips to aid the company’s performance.
Cowen, which recently reiterated its outperform rating on Micron, suggested a modest upside to upwardly revised guidance for the second quarter as the average selling price of memory chips remained healthy in February.
Most Popular
Earnings Preview: Home Depot’s Q3 report likely to reflect weak consumer demand
The US housing industry has been mostly resilient to headwinds like economic uncertainties so far this year. However, housing activity cooled in recent months as high mortgage rates and inflation
Take-Two Interactive (TTWO) will report Q2 2025 earnings this week, a few points to note
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed red on Monday. The stock has gained 16% over the past three months. The gaming company is set to report its second
Earnings Summary: Highlights of Loews Corporation’s (L) Q3 2024 report
Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported higher revenue and profit for the third quarter of 2024.