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As of 09:30 Beijing time, New York gold futures fell 0.34%, New York silver futures rose 0.72%, and New York copper futures rose 0.07%.On August 28, Russian State Duma Chairman Volodin, in an interview, strongly refuted Japans comments regarding Russian President Putins visit to Iturup Island (known as Etorofu Island in Japanese). Volodin emphasized that the Japanese leadership should face up to its history of aggression. During World War II, Japanese militarism caused severe harm to many countries and was punished for it. Now, the Japanese leadership is reviving dangerous rhetoric, which will only lead to further defeat.According to JLC Network Technologys calculations, as of the tenth working day on August 28th, the average price of benchmark crude oil was $88.21 per barrel, with a change rate of 6.74%. Domestic gasoline and diesel retail prices should be increased by 375 and 360 yuan/ton, respectively. 1. Shandong Local Refineries: With international crude oil futures prices rebounding at the close, coupled with a moderate increase in purchases by industry players yesterday, local refineries are close to achieving a balance between production and sales of gasoline and diesel. Driven by positive factors, it is expected that the price of refined oil products from Shandong local refineries will rise by 30-50 yuan/ton today. 2. East China: On Friday, crude oil prices rebounded at the close, and the window for price increases opened, providing renewed support from the news. It is expected that gasoline and diesel prices from major oil companies in East China will consolidate at high levels today, with industry players mainly operating on an as-needed basis, resulting in a relatively weak market trading atmosphere. 3. South China: On Friday, international crude oil prices rose at the close, and the window for retail price increases opened. Positive news boosted the market, and it is expected that gasoline and diesel prices from major oil companies in South China will remain high and consolidate today, with the terminal market mainly purchasing on an as-needed basis, resulting in a sluggish trading volume. 4. North China: On Friday, the rebound in international oil prices narrowed, and the window for retail price increases opened, which is expected to support the high prices of gasoline and diesel from major oil companies in North China. A small number of prices may see slight increases. Traders are cautious with their immediate needs, resulting in a quiet and stable trading environment. 5. Central China: On Friday, crude oil prices rebounded after a decline, and the window for retail price increases opened. Supported by this positive news, gasoline and diesel prices from major oil companies in Central China are expected to remain high today. Traders are purchasing only as needed, resulting in a quiet and stable market.On August 28th, the State Council Information Office held a press conference to introduce the development of Chinas service trade and the progress of preparations for the 2026 China International Fair for Trade in Services (CIFTIS), and answered questions from reporters. The press conference announced that this years CIFTIS will further leverage its role as an open platform, establishing a "China Services" exhibition area in the core area of the thematic exhibition for the first time to showcase innovative achievements and typical cases in the service trade sector from various regions. The Global Service Trade Summit will continue to be held at a high level, authoritative reports such as the "China Service Trade Development Report" will be released, and nearly 100 conferences and events will be held to provide opportunities for countries around the world to discuss and promote the liberalization and facilitation of service trade.The Peoples Bank of China (PBOC) announced today that it conducted 20 billion yuan of 7-day reverse repurchase operations, with both bids and winning bids amounting to 20 billion yuan, at an interest rate of 1.40%. Simultaneously, it conducted 333 billion yuan of overnight reverse repurchase operations.

Why Micron Stock May Be a Good Bet in 2022, Outperform Broader Semis

Teddy Fairbank

Dec 21, 2021 15:22

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Micron is experiencing an increase in demand for memory chips due to cloud computing business and the quick adoption of 5G cellular networks. Development is driven by high-value options, consumer engagement and expense structure improvement.

 

" We believe Micron Technology (MU) must outshine more comprehensive semis in 2022 based on 1) a notable reduction in consumer DRAM stock levels throughout server, PC and mobile markets; 2) more logical DRAM wafer capacity development in 2022 than 2021; and 3) strong take advantage of to growing DRAM content in AI/ML servers, ADAS and EV automobiles, and 5G Android smart devices. We are increasing our price target from $80 to $99," noted Karl Ackerman.

 

Later today, the world's leading semiconductor manufacturer is expected to report its financial first-quarter profits of $2.01 per share, representing year-over-year development of more than 155% from $0.78 per share seen in the very same quarter a year ago.

 

The Boise Idaho-based semiconductor business is anticipated to publish revenue growth of over 30% to around $7.7 billion from a year earlier. In the last two years, the company has actually constantly topped expectations on profits per share.

 

However, for the financial Q1 guidance, the world's leading semiconductor producer forecast profits of $7.65 billion, plus or minus $200 million, missing the Wall Street agreement of $8.57 billion. In addition, the business predicted adjusted earnings per share of $2.10, plus or minus 10 cents, missing expectations of $2.33.

 

The company, which provides components for Apple, has actually been impacted by short-term supply problems in its own supply chain. Power interruptions in China have affected the supply chains for other tech companies as well.

 

" Micron's revenues are much larger than that of Texas Instruments Incorporated (TI), however the latter has a greater EBIT margin and a much better cash cushion. Our contrast of the post-Covid recovery above, reveals that Micron has been carrying out better than TI lately. Offered Micron's P/S ratio of around 3x, compared to TI's 10x, our company believe that this space could close. We think that Micron stock is currently a much better bet compared to Texas Instruments stock," stated analysts at TREFIS in its December 16 note.

 

Micron Technology stock soared over 10% up until now this year. It traded 1.27% lower at 81.95 in pre-market trading on Monday. 

Expert Comments

" While the underlying demand trends are strong and manufacturer inventory levels are low heading into a duration of seasonal strength, there are some signs of stock modifications short term after customers-built inventory," kept in mind Joseph Moore.

 

" We see need growth on the back of seasonality, memory elasticity/higher content per unit, and low consumer inventories, and really slow supply development in DRAM offered decreases in capex. We continue to believe that memory stocks have a relatively distinct profits cycle, though highs and lows are most likely to be much better than they have actually been traditionally."

Micron Technology Stock Price Forecast

Twenty-two experts who provided stock ratings for Micron Technology in the last three months forecast the average price in 12 months of $99.18 with a high forecast of $165.00 and a low forecast of $58.00.

 

The average price target represents a 19.49% modification from the last price of $83.00. Of those 22 analysts, 16 ranked "Buy", five rated "Hold" while one ranked "Sell", according to Tipranks.

 

Morgan Stanley provided the base target price of $75 with a high of $120 under a bull circumstance and $40 under the worst-case circumstance. The firm offered an "Equal-weight" ranking on the semiconductor's stock.

 

Several other analysts have likewise updated their stock outlook. UBS raised the target price to $99 from $90. Cowen and company raised the price objective to $99 from $80. Mizuho upped the price target to $95 from $75.

 

Technical analysis recommends it is great to purchase now as 100-day Moving Average and 20-200-day MACD Oscillator indicates a purchasing opportunity.

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