VIDEO: Micron’s $100B Deals, ‘Irrational Exuberance’ and the Market’s Next Move
Chris Versace sits down with TipRanks’ Julie Gillespie to break down Micron’s ($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.
