Latest news with #MattBryson
Mint
26-06-2025
- Business
- Mint
Micron Gives Upbeat Forecast, Lifted by AI Computing Demand
(Bloomberg) -- Micron Technology Inc., Wall Street's favorite chipmaker this year, gave an upbeat forecast for the current quarter, helped by demand for artificial intelligence equipment. Though the company posted third-quarter results and a fourth-quarter forecast that exceeded estimates, the stock pared gains in late trading after a conference call with executives. A key focus was high-bandwidth memory, a component used in artificial intelligence computing. The technology is fueling a sales surge at Micron, but the company didn't predict the kind of runaway growth that some investors were looking for. The sales gains 'while impressive, still roughly parallel our prior expectations,' Matt Bryson, an analyst at Wedbush Securities, said in a note. After initially gaining as much as 7.7% following the release of Micron's earnings report on Wednesday, the stock briefly turned negative. It rose 2% in premarket trading on Thursday. High-bandwidth memory, or HBM, has become the star of Micron's business. It's used in machines that develop and run AI tools. The company expects continued growth from that market as such software becomes more complex, requiring bigger amounts of memory. The company is also starting to recover from narrower profit margins in the previous quarter. On the conference call, analysts peppered Chief Executive Officer Sanjay Mehrotra with questions about HBM, trying to get a sense of how much growth is coming. Fiscal fourth-quarter revenue will be roughly $10.7 billion, the company said. That was well ahead of the $9.89 billion average analyst estimate. Profit will be around $2.50 a share, excluding certain items, compared with a projection of $2.03. Sales rose 37% to $9.3 billion in the fiscal third quarter, which ended May 29. Analysts had estimated $8.85 billion. Earnings were $1.91 a share, excluding some items, compared with an average prediction of $1.60. In addition to pursuing more AI revenue, Boise, Idaho-based Micron is looking to sell more memory to other areas, such as electric vehicles and gaming chips, according to Dan Morgan, senior portfolio manager at Synovus, said in an earlier note. The growth prospects had turned Micron into the chip industry's hottest stock this year, with the shares gaining 51% through Thursday's close. --With assistance from Ian King. (Updates with premarket shares and additional context) More stories like this are available on
Business Insider
26-06-2025
- Business
- Business Insider
Micron (MU) Receives a Buy from Wedbush
Wedbush analyst Matt Bryson maintained a Buy rating on Micron (MU – Research Report) yesterday and set a price target of $150.00. The company's shares closed yesterday at $127.25. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Bryson is a 5-star analyst with an average return of 30.7% and a 72.66% success rate. Bryson covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Micron, and Seagate Tech. Currently, the analyst consensus on Micron is a Strong Buy with an average price target of $127.00, a -0.20% downside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $150.00 price target.
Yahoo
25-06-2025
- Business
- Yahoo
Micron Forecast Draws Muted Response Following 2025 Stock Rally
(Bloomberg) -- Micron Technology Inc., Wall Street's favorite chipmaker this year, delivered an outlook that wasn't quite rosy enough to keep its 2025 rally going. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags Mapping the Architectural History of New York's Chinatown Though the company posted third-quarter results and a fourth-quarter forecast that exceeded estimates, the stock pared gains in late trading after a conference call with executives. A key focus was high-bandwidth memory, a component used in artificial intelligence computing. The technology is fueling a sales surge at Micron, but the company didn't predict the kind of runaway growth that some investors were looking for. The sales gains 'while impressive, still roughly parallel our prior expectations,' Matt Bryson, an analyst at Wedbush Securities, said in a note. After initially gaining as much as 7.7% following the release of Micron's earnings report, the stock briefly turned negative. It was little changed as of 6:50 p.m. in New York. High-bandwidth memory, or HBM, has become the star of Micron's business. It's used in machines that develop and run AI tools. The company expects continued growth from that market as such software becomes more complex, requiring bigger amounts of memory. The company is also starting to recover from narrower profit margins in the previous quarter. On the conference call, analysts peppered Chief Executive Officer Sanjay Mehrotra with questions about HBM, trying to get a sense of how much growth is coming. The mismatch in expectations overshadowed a strong report. Fiscal fourth-quarter revenue will be roughly $10.7 billion, the company said. That was well ahead of the $9.89 billion average analyst estimate. Profit will be around $2.50 a share, excluding certain items, compared with a projection of $2.03. Sales rose 37% to $9.3 billion in the fiscal third quarter, which ended May 29. Analysts had estimated $8.85 billion. Earnings were $1.91 a share, excluding some items, compared with an average prediction of $1.60. In addition to pursuing more AI revenue, Boise, Idaho-based Micron is looking to sell more memory to other areas, such as electric vehicles and gaming chips, according to Dan Morgan, senior portfolio manager at Synovus, said in an earlier note. The growth prospects had turned Micron into the chip industry's hottest stock this year, with the shares gaining 51% through Thursday's close. --With assistance from Ian King. Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push How to Steal a House Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Apple Test-Drives Big-Screen Movie Strategy With F1 Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
The Key Takeaways From Nvidia's Earnings
Wedbush Securities Equity Research Managing Director Matt Bryson breaks down Nvidia's earnings and forecast on "Bloomberg The Close." Nvidia said sales will be about $45 billion in the second fiscal quarter. That included the loss of roughly $8 billion in revenue from China because of export controls. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Concerns About Nvidia Corporation (NVDA) Are Easing, Tech Expert Says
Nvidia's (NVDA) "new revenue sources" are causing the Street's worries about NVDA stock to ease significantly, Matt Bryson, the Managing Director of Wedbush Securities, told Yahoo Finance recently. Meanwhile, as far as NVDA's first-quarter results are concerned, Bryson expects the company's positive catalysts to "offset" the difficulties that it started facing in China towards the end of Q1. Bryson covers the Enterprise Hardware sector for Wedbush. The Street's Perceptions of NVDA and Its Q1 Results Nvidia Corporation (NVDA) has improved the performance of its new Blackwell chips, while the tech giant has made major deals with a number of governments, Bryson noted. In light of these developments, the Street's fears about NVDA have become less intense, he stated. "There are (fewer) concerns about Nvidia than there was two or three weeks ago because (it has) all of these other new revenue sources popping up," he said. Meanwhile, NVDA's strong revenue from China in the first two months of the year, along with the increased output of its Blackwell chips as Q1 progressed, should offset the weakness in China that the firm experienced in March, according to Bryson. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVDA and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
