Chris Lau, Kapitall: Earnings season can be a volatile time for semiconductor stocks and investors alike. Just look at Micron.
With US markets rising post-government shutdown, you’d expect many companies to perform well. But not everyone is rising, especially in the tech sector. Just look at the earnings warnings from Teradata (TDC) and IBM (IBM), or consider what happened to Advanced Micro Devices (AMD) when it’s latest results came out.
[Read more from Kapitall during earnings season: 5 Tech Stocks to Watch After Earnings Warnings]
Some stocks reporting quarterly results witnessed a sell off, thanks in part to the bullishness already built in to their stock price. Still, some opportunities emerged. Consider semiconductor producer Micron Technology (MU).Click on the interactive chart to see price data over time. Micron pricing weakens Micron was up by nearly double in 2013 prior to the earnings report, so some investors had motivation to book gains.
- The company earned $0.20 per share, beating estimates by $0.04 per share.
- Revenue was $2.84 billion, far higher than the consensus estimate of $2.7 billion.
- The average selling price (ASP) rose 5% while volumes rose 6%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV