On this episode of Stock Movers:
- Micron Technology (MU) shares are higher this morning as it gave an upbeat forecast for the current quarter, driven by demand for artificial intelligence equipment, and posted third-quarter results and a fourth-quarter forecast that exceeded estimates. The company's high-bandwidth memory (HBM) business is fueling a sales surge, with continued growth expected as AI software becomes more complex and requires bigger amounts of memory.
- Nvidia (NVDA) is rising in early trading after hitting an all-time high, extending an advance that has cemented its position as one of the most valuable companies in the world. The company's market capitalization has added nearly $1.5 trillion since April, with a current market cap of about $3.77 trillion, overtaking Microsoft. Nvidia's growth is driven by robust earnings and strong demand for its AI chips
- ASML (ASML) is moving to the downside this morning as it was downgraded to hold at Jefferies. Analyst Janardan Menon sees headwinds ahead for the semicap equipment sector.
- Nike (NKE) shares are higher this morning as it prepares to release fourth quarter earnings after the market closes. It's likely to move to the downside, however, Wall Street is hopeful the worst can be behind for the retail giant. Analysts project revenue and earnings per share to be much lower than the results from a year ago.
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