NEWS
Semis Buck Stocks’ Sluggish Trend

U.S. stocks sold off today, even as Nvidia and a few other tech giants stayed in the green. Despite the broader selloff, the Stocktwits community continues to find opportunities on the long side as the overall bullish tone remains. 👀

Today's issue covers Micron moving the semi sector, two big names’ new all-time highs, and why there may be trouble brewing in paradise (OpenAI). 📰

Here’s the S&P 500 heatmap. 2 of 11 sectors closed green, with utilities (+0.53%) leading and energy (-1.96%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $KMX, $LSPD, $MU, $MDAI, $NNDM 📉 $SFIX, $CNXC, $TMDIF, $LUV, $QURE*

*If you’re a business and want to access this data via our API, email us.

EARNINGS
Micron Moves The Semi Sector 🌠

Investors came into today with some semiconductor scaries, hoping that Micron Technology wouldn’t disappoint and drag the group lower. Luckily for them, the company delivered and is adding momentum to the rebound that’s recently started across the semi industry. 👍

Analysts expected the memory-chip maker to deliver $7.65 billion in revenue, which it topped at $7.75 billion (up 14% QoQ and 93% YoY). Adjusted earnings per share of $1.18 also topped the $1.11 consensus estimate and compared to a significant loss this quarter last year.

As for guidance, management expects $8.50 to $8.90 billion in revenue for the first fiscal quarter, above the $8.30 billion Wall Street view. Its adjusted earnings guidance of $1.74 also topped the $1.52 consensus view. 🔮

Overall Micron CEO Sanjay Mehrotra said that artificial intelligence demand “drove a strong ramp of our data-center DRAM products and our industry-leading high-bandwidth memory.” Also, its NAND memory business topped $1 billion in quarterly revenue for the first time.

Investors were happy to hear that Micron is positioned to capitalize on the AI boom more than initially expected. Shares popped 15% after hours, and Stocktwits sentiment in ‘bullish’ territory suggests the community is looking for further upside in Micron and its peers. 🐂

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