Micron Technology (MU) reported fourth-quarter earnings and revenue that beat analysts’ expectations after the close yesterday. The company said earnings for the quarter were $6.14 billion vs. $5.96 billion expected. As a result, we will be watching our favorite semiconductor stocks for potential trades in the short term.
Micron shares are 5.47% in pre-market trading.
Micron shares have gained nearly 60 percent in 2017, outperforming the 23 percent gain in the S&P 500 Information Technology sector.
AMD (+1.60% PM), NVDA (+1.50% PM), ON, TXN are on watch today for potential.
ON Semiconductor and Texas Instruments are trending. SOTEMA is bullish, with price action bouncing off the 9/20ema on pullbacks. With earnings over a month away, the stock should continue higher. TXN is similar.
Financials and Energy are strong in the pre-market session. BAC and GS are both up over 1% in the pre-market session.
I have a few personal errands to run this morning, so I will not be LIVE until approximately 10:30 AM.