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英伟达股东会和美光财报!今晚将是芯片股的重要一天

Nvidia shareholder meeting and Micron financial report! Tonight will be an important day for chip stocks.

wallstreetcn ·  Jun 26 19:15

This will be the key for AI chip stocks to regain their gains.

At a time when the rise in AI chip stocks is slowing, today will usher in two key events, providing a much-needed catalyst for the chip industry.

On Wednesday local time,$NVIDIA (NVDA.US)$An annual general meeting of shareholders will be held,$Micron Technology (MU.US)$Results for the third fiscal quarter will be announced after the market closes. These two major events may become the key for AI chip stocks to regain their gains.

Recently, Nvidia's gains have been thwarted, and investors' enthusiasm for chip stocks has subsided. Despite Nvidia's sharp rebound of 6% on Tuesday, it fell more than 7% in the past week after three consecutive days of decline, down nearly 10% from its all-time high. Broadcom and GaoPass also fell about 12% and 11% in the past week, respectively.

Harvest Portfolio Management portfolio manager and co-CIO Paul Meeks said these two positive factors could drive a rebound in chip stocks on Wednesday. According to Meeks:

Chip stocks have been excessively sold off. In the long run, AI stocks still have room to rise, and the valuation is reasonable. A pullback is an investment opportunity, but it is recommended to wait until the event is over before buying. I have a lot of cash on hand but I'm not going to bottom out. I may increase my Nvidia and Micron holdings after the news is announced on Thursday morning.

Follow Hwang In-hoon's comments on AI chips

Investors pay close attention to any relevant comments at Nvidia's shareholders' meeting. Although it has not been decided whether Nvidia CEO Wong In-hoon will attend the shareholders' meeting, any relevant comments may be a driving force for the stock price.

Meeks pointed out that Hwang In-hoon's recent remarks about AI chips during his trip to Asia triggered a rebound in stock prices. His related comments may have boosted market sentiment and made investors feel that Nvidia has not yet reached the peak of revenue.

Micron's performance guidelines may be an upward driver

Micron's earnings report may also drive the entire industry upward. The market generally expects that the growth brought about by AI will be reflected in performance, and the memory chip manufacturer will raise its performance guidelines.

In the 2024 fiscal year ending August, the market generally expected Micron's revenue to be US$37.3 billion, up 50% year over year, and earnings per share of US$9.01; the company's fiscal year 2025 revenue is expected to be US$43.1 billion, an increase of 16%, and earnings per share of US$12.04.

According to Harlan Sur, an analyst at J.P. Morgan Chase, AI-driven demand growth is “the fastest growth driver in memory chip history,” and earnings per share are expected to rise as the industry continues to recover.

Citibank analyst Christopher Danely raised the target price from $150 to $175 before the earnings report was released. The new target price means there is still room for about 25% increase. Citi also stated that its performance guidance will be stronger than expected, and that Micron's market share in the AI storage sector is expected to increase.

Rosenblatt Securities, on the other hand, gave a target price of 225 dollars, up more than 60% from Tuesday's closing price, which is Wall Street's most optimistic forecast.

148.pngAt 00:00 on June 27, Beijing time, Nvidia's 2024 Annual General Meeting of Shareholders will be held. Friends are welcome to make an appointment to watch.

Editor/Somer

The translation is provided by third-party software.


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