Today’s Research Reports on Stocks to Watch: Micron Technology and Applied Materials

NEW YORK, NY / ACCESSWIRE / April 6, 2018 / Micron Technology shares saw a big fall on Thursday after UBS analyst Timothy Arcuri and his team initiated coverage on the stock and gave it a “sell” rating. Shares of Applied Materials also sank into the red despite any catalyst to explain the drop.

RDI Initiates Coverage on:

Micron Technology, Inc.
https://rdinvesting.com/news/?ticker=MU

Applied Materials, Inc.
https://rdinvesting.com/news/?ticker=AMAT

Micron Technology, Inc. shares closed down 6.65% on about 89 million shares traded on Thursday. The stock sank after UBS had some not so nice things to say about the company. According to UBS analyst Timothy Arcuri, the company’s supply chain has struggled to keep inventory growth on pace with revenue expansion over the four quarters. Arcuri and his team are bearish on Micron shares because of “cyclical memory concerns and big estimate cuts.” Arcuri wrote, “The supply chain has struggled to keep inventory growing anywhere close to revenue growth during the past 4Qs and the entirety of C2017. This had helped fuel a very favorable cyclical backdrop for the sector with respect to both revenue and margins, but this factor is rapidly waning and will likely shift to more of a headwind moving through C2018, especially in 2H:18.” The firm has initiated a “sell” rating on Micron shares. Arcuri has given rival Intel a “buy” rating.

Access RDI’s Micron Technology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MU

Applied Materials, Inc. shares closed down 2.29% yesterday and continued to see an additional loss of 3.21% in after-hours trading. There was no particular news to explain the stock’s fall on Thursday. It was last month that the leader in materials engineering solutions, was recognized by Intel as a recipient of a 2017 Preferred Quality Supplier (PQS) award. Jacklyn Sturm, the Vice President of Technology and Manufacturing Group and General Manager of Global Supply Management at Intel, said, “The dynamic nature of our business necessitates continuous improvement and an unrelenting focus on quality. As Intel transitions to become a more data centric company, our award winning suppliers are embracing the most difficult challenges with rapid innovation and bold strategies.”

Access RDI’s Applied Materials, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMAT

Our Actionable Research on Micron Technology, Inc. (NASDAQ: MU) and Applied Materials, Inc. (NASDAQ: AMAT) can be downloaded free of charge at Research Driven Investing.

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