Tech Stocks Momentum! Micron Technology, Inc. (MU), Advanced Micro Devices, Inc. (AMD)
Shares of Micron Technology, Inc. (NASDAQ:MU) ended Monday session in red amid volatile trading. The shares closed down -0.11 points or -0.62% at $17.50 with 18.86 million shares getting traded. Post opening the session at $17.72, the shares hit an intraday low of $17.49 and an intraday high of $17.83 and the price vacillated in this range throughout the day. The company has a market cap of $18.05 billion and the numbers of outstanding shares have been calculated to be 1.04 billion shares.
Micron Technology, Inc. (MU) announced results of operations for its fourth quarter and 2016 fiscal year, which ended September 1, 2016. Revenues for the fourth quarter of fiscal 2016 were $3.22 billion and were 11 percent higher compared to the third quarter of fiscal 2016 and 11 percent lower compared to the fourth quarter of fiscal 2015. Revenues for fiscal year 2016 were $12.40 billion and net loss attributable to Micron shareholders was $276 million, or ($0.27) per diluted share. On a non-GAAP basis, the fiscal year result was income of $0.06 per diluted share. Cash flows from operations were $3.17 billion for fiscal year 2016.
“We are seeing improving market conditions in terms of both slowing supply growth and improving demand across a number of key segments,” said Micron CEO Mark Durcan. “In addition, we continue to execute on our key initiatives related to the deployment of advanced technologies and products to advantage our customers.”
Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) ended Monday session in green amid volatile trading. The shares closed up +0.09 points or 1.33% at $6.84 with 13.80 million shares getting traded. Post opening the session at $6.82, the shares hit an intraday low of $6.80 and an intraday high of $6.94 and the price vacillated in this range throughout the day. The company has a market cap of $5.94 billion and the numbers of outstanding shares have been calculated to be 895.00 million shares.
Advanced Micro Devices, Inc. (AMD) announced that it will webcast its earnings conference call on Thursday, Oct. 20, 2016 at 5 p.m. EDT / 2 p.m. PDT to discuss the results of its fiscal third quarter ended Sept. 24, 2016. All interested parties will have the opportunity to listen to the real-time audio webcast of the teleconference over the internet through AMD’s website at ir.amd.com. An archive of the webcast will be available for approximately one year after the conference call.