VIDEO: Micron’s $100B Deals, ‘Irrational Exuberance’ and the Market’s Next Move
We like the rash of bank dividend increases, but remain focus on the engine driving them.
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Chris Versace sits down with TipRanks’ Julie Gillespie to break down Micron’s (MU) earnings and what it all means. Revenue quadrupled, earnings rose more than tenfold, and 13 analysts have already raised their price targets, including a new Street high of $2,200 from Melius Research.
The conversation spans Micron’s 16 long-term supply deals locking in ~$100 billion in revenue, to a CapEx forecast raised to $27 billion, to what the memory shortage timeline really looks like through 2028.
They also react to this morning’s May PCE data (headline 4.1% YoY, core 3.4%) and what it means for the Fed’s rate path — plus the Fed’s annual bank stress test results and what dividend increases from Morgan Stanley (MS), Goldman Sachs (GS), and JPMorgan (JPM) signal for the financial sector.
If you encounter difficulties watching the video, you can also watch it here: https://www.youtube.com/watch?v=7oMqf_uolPE
At the time of publication, TheStreet Pro Portfolio was long BAC, MS and MU.
