Micron Technology announces excellent quarterly results

January 08, 2021 12:30

After the yesterday’s trading day close, Micron Technology announced its quarterly results as being far better than expected, with a profit per share of $ 0.78 and a turnover of more than 5.77 billion dollars, following in the wake of other technology companies likewise announcing positive results.

Micron Technology is an American company specializing in the production of semiconductors and the manufacture of ICs and storage memory for computers, mobile devices, and the automotive sector. Its consumer products are marketed under the Crucial Technology and Lexar brands.

As a strong component of the Nasdaq 100, it experienced growth close to 40% over the last year, accumulating a rise of 430% in the last 5 years. These results may further boost the price of this company which yesterday marked its all-time highs, exceeding $ 80 per share.

Technically speaking, we can see that the price has followed a strong upward trend after breaking the level of $ 54.83 on November 6, which acted as its main resistance after the sharp falls at the beginning of the pandemic supported by its 18 moving average.

It is important to note that we observe downward divergences in the price with its stochastic oscillators and MACD with a slight overbought, so it would not be ruled out that it could make corrections in the short/medium term since it is currently trading far from its moving averages.

Source:Daily Chart Micron from the Admiral Markets MT5 platform (from September 9, 2019 to January 8, 2021). Access: January 8, 2021 at 10:00 PM GMT. Please note: Past performance is not a reliable indicator of future results or future performance.

In 2016, Micron grew by 54.80%, in 2017 by 87.59%, in 2018 it fell by 22.84%, in 2019 it rose by 69.49% and in 2020 by 39.79%.

With an Admiral Markets Trade.MT5 account, you can trade Contracts for Difference (CFDs) on Micron and over 3,000 stocks! CFDs allow traders to try to profit from both bull and bear markets, as well as profit from the use of leverage. Click on the following banner to open an account today:

Trade Forex & CFDs

INFORMATION ON ANALYTICAL MATERIALS:

The data provided provides additional information on all analyzes, estimates, forecasts, forecasts, market reviews, weekly outlooks or other evaluations or similar information (hereinafter "Analysis") published on the Admiral Markets website. Before making any investment decisions, pay close attention to the following:

  1. This is a marketing communication. The content is posted for informational purposes only and should not be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on pre-dissemination of investment research.
  2. Each investment decision is made by each client alone, while Admiral Markets UK Ltd (Admiral Markets) will not be liable for any loss or damage arising from such a decision, whether based on content or not.
  3. In order to protect the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for the prevention and management of conflicts of interest.
  4. The analysis is prepared by an independent analyst, Roberto Rojas, SEO implementer (hereinafter "Author") based on personal estimates.
  5. While all reasonable efforts are made to ensure that all sources of content are reliable and that all information is presented, as much as possible, in an understandable, timely, accurate, and complete manner, Admiral Markets does not guarantee accuracy. or integrity of any information contained in the Analysis.
  6. Any past performance or modelling of the financial instruments indicated in the content should not be construed as an express or implied promise, guarantee, or implication of Admiral Markets for any future performance. The value of the financial instrument may rise and fall, and the preservation of the asset's value is not guaranteed.

7. Leveraged products (including contracts for difference) are speculative in nature and may generate profit or loss. Before you start trading, make sure you fully understand the risks.

Avatar-Admirals
Admirals
An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.