NEW YORK (TheStreet) -- Shares of NVIDIA (NVDA) were falling 1.8% to $20.78 Friday after Micron Technology (MU) missed analysts' estimates in its fiscal third quarter and offered a light fiscal fourth guidance due to weak PC market trends.
Micron reported earnings of 54 cents a share for the fiscal third quarter, below analysts' estimates of 57 cents a share. The company said revenue fell 3.3% year over year to $3.85 billion for the quarter, compared to analysts' estimates of $3.91 billion.
Looking to its fiscal fourth quarter, Micron said it expects revenue of $3.45 billion to $3.7 billion, below analysts' estimates of $4.16 billion for the quarter.
NVIDIA is a chipmaker that manufactures graphics cards for PCs and chipsets for mobile devices and connected cars. The company is based in Santa Clara, CA.
TheStreet Ratings team rates NVIDIA CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NVIDIA CORP (NVDA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income."