Seeking Alpha

Micron Technology beats by $0.09, beats on revenue

  • Micron Technology (MU): Q2 EPS of $0.85 beats by $0.09.
  • Revenue of $4.10B (+97.1% Y/Y) beats by $110M.
  • Shares +3.1% AH.
  • Press Release
Comments (12)
  • sethlemay
    , contributor
    Comments (197) | Send Message
     
    pretty weak AH action given the big beat, and the long term trajectory of the company.
    3 Apr, 04:24 PM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Everyone is waiting for guidance in the call... give it a bit.
    3 Apr, 04:28 PM Reply Like
  • a1shot
    , contributor
    Comments (313) | Send Message
     
    Its down already, and you can see how it goes down as MU presented the Innotera news
    3 Apr, 04:43 PM Reply Like
  • sethlemay
    , contributor
    Comments (197) | Send Message
     
    What was the guidance. Sorry I am not listening to the call right now but i am curious about guidance
    3 Apr, 05:06 PM Reply Like
  • abdullah999
    , contributor
    Comments (160) | Send Message
     
    $885MM FCF generated over the quarter. Lower than $981MM in Q1 but still very good (given $MU Enterprise Value of $28B). The big question is how sustainable that kind of profitability is...time will tell!
    3 Apr, 05:17 PM Reply Like
  • papayamon
    , contributor
    Comments (1058) | Send Message
     
    I was able to sell for $25 and then buy back at 24.15 after hours. No complaints from me. Mu is positioned to be hugely profitable going forward. Give it a week or two and let these earnings percolate in the market's consciousness a bit. MU is headed solidly over $25. I think 27 is in the bag and also where i want to pull the trigger.
    3 Apr, 05:18 PM Reply Like
  • sethlemay
    , contributor
    Comments (197) | Send Message
     
    I actually believe that not only is $27 in the bag but that we are at the start of a true oligopoly where a very very loose and legal form of non-collaborative price fixing will occur as there is such a high barrier to entry. Not to mention that every single device from your microwave to your refrigerator and home lighting will eventually require memory. The skies are bright and clear for these companies and $MU is the most undervalued of them all.
    3 Apr, 05:23 PM Reply Like
  • Bulbhead
    , contributor
    Comments (4) | Send Message
     
    Yeah, and everyone was already expecting the beat it seems.
    3 Apr, 05:47 PM Reply Like
  • Get a Dog
    , contributor
    Comments (143) | Send Message
     
    Earnings are a solid beat, 12% above the $0.76 print and 42% above the $0.60 a lot of the large houses were expecting. However, it is below the $0.90 I was expecting. Guidance and the Q&A seemed seemed positive on the call. Given weekly option expiration tomorrow and the sheer numbers of long positions out, I think action will be muted on Friday. I think market action on Monday & Tuesday, will give a far better indication of prices for the quarter.

     

    Best of luck to all longs...
    3 Apr, 05:52 PM Reply Like
  • Ashraf Eassa
    , contributor
    Comments (8815) | Send Message
     
    Stock has risen by 5x from the low and people wonder why a "beat" isn't followed by a massive rise? ;-)
    3 Apr, 06:16 PM Reply Like
  • papayamon
    , contributor
    Comments (1058) | Send Message
     
    There's an element of truth to that, though I think MU is well placed to keep margins high - let's give a couple of days for digestion. I expect higher highs and a lot of volatility.
    3 Apr, 07:39 PM Reply Like
  • Stock Market Mike
    , contributor
    Comments (1840) | Send Message
     
    Yikes. I had a few calls allocated to a $23/23.50 spread, but it looks like they both might expire worthless today. Good thing I collected more premium than I paid.

     

    Stock is following the pattern of the last 2013 earnings release... HUGE amount of shares traded, likely shorts pushing it down past a certain point.

     

    -Mike
    4 Apr, 12:18 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|