Fly News Breaks for December 19, 2019
Dec 19, 2019 | 09:10 EDT
RBC Capital analyst Mitch Steves raised his price target on Micron to $65 and kept his Outperform rating after its "solid" Q1 results along with the commentary from its CEO Sanjay Mehrota that Q2 will mark the "cyclical bottom" for the company's financial performance. The analyst expects Micron's DRAM spot prices to rise going forward, its data center business demand to improve "above seasonal trends", and for memory pricing to trend higher with the likely ramp in 5G smartphone cycle.
News For MU From the Last 2 Days
Feb 14, 2020 | 16:11 EST
David Tepper's Appaloosa Management disclosed in an SEC filing its holdings as of December 31, 2019. The fund's one new buy during the fourth quarter was Intelsat (I). Appaloosa exited four positions during the quarter, including by size of position SPDR S&P Oil & Gas Exploration & Production ETF (XOP), Boeing (BA), and Mr Cooper Group (COOP). The fund increased its stake in six holdings, including by size of previous position Alibaba (BABA), Micron (MU), Amazon (AMZN), Energy Transfer LP (ET), and UnitedHealth (UNH). Appaloosa reduced its stake in six holdings, including by size of previous position Clearway Energy Class C (CWEN), Clearway Energy Class A, Caesars Entertainment (CZR), PG&E (PCG), and Broadcom (AVGO). The fund's told holdings as of December 31, in order of size, were Alphabet Class C (GOOG), Facebook (FB), Amazon, Alibaba, and Micron.