Tuesday opens trading opportunities in the artificial intelligence technology sector. When Micron (MU), a memory supplier, posts results tomorrow, it could lift Nvidia (NVDA) and Advanced Micro Devices (AMD).
MU stock peaked at $157.54 in the summer before closing at $93.46. The company will give its shareholders an update on sell-through levels in the consumer electronics market. Although PC sales likely rose by around 5% Y/Y in the last quarter, Micron is in a better position to forecast 2025 sales.
On Sep. 19, Stifel analyst Brian Chin worried about memory suppliers accepting lower prices to increase bit shipments. He set a $135 price target, down from $165.
Electric Vehicle leader Tesla (TSLA) continued to defy skeptics. The stock added 4.90% to close at around $250. Despite two consecutive quarters of weak profit margins and deliveries, markets are confident about Q3. The firm needs to post 461,000 deliveries in the quarter, lifted by strength in China. However, European markets are worsening amid higher competition from Chinese EV suppliers.
AeroVironment (AVAV) bounced back by 11.7%. Yesterday, the U.S. Army lifted its stop-work order on a $900 million contract.
Trump Media (DJT) is the stock to avoid. The lock-up period ended last week, sending DJT stock down by exactly 10.00% on Monday. Short-sellers hold a 19.26% short float against the stock.