NEW YORK, NY / ACCESSWIRE / September 28, 2017 / Micron Technology blasted to a new high on Wednesday after releasing fourth-quarter earnings results that beat on both the top and bottom line as well as releasing a future outlook for the first quarter that beat expectations. Shares of NVIDIA saw some gains yesterday as well after declining on Tuesday when a Bloomberg report indicated that Tesla, a big NVIDIA customer, will start using Intel infotainment chips instead.

RDI Initiates Coverage on:

Micron Technology, Inc.
http://www.rdinvesting.com/report/?ticker=MU

NVIDIA Corporation
http://www.rdinvesting.com/report/?ticker=NVDA

Micron Technology, Inc.'s shares closed up 8.51% yesterday on explosive trading volume compared to usual. Over 84 million shares were traded on Wednesday compared to an average volume of just around 26 million. The stock also hit a brand new high of $37.15 during intra-day trading. Traders cheered after the company released its fourth quarter earnings report late Tuesday that crushed expectations and an outlook for the first quarter that was also better than the Street expected. For the first quarter, Micron has forecast revenue in the range of $6.1 billion to $6.5 billion and EPS of $2.09 to $2.23. The Street expectations are revenue of $6 billion and EPS of $1.82. Goldman Sachs analyst Mark Delaney reiterated a "buy" rating while Credit Suisse analyst John Pitzer reiterated an "outperform" rating. For the fourth quarter, the company reported EPS of $2.02 and revenue of $6.14 billion. Analysts had been waiting for EPS of $1.83 and revenue of $5.89 billion. President and CEO of Micron, Sanjay Mehrotra noted that the results were "driven by favorable industry fundamentals and solid execution in deploying our next-generation, lower cost technologies and diversifying our product portfolio toward a richer mix of differentiated, high-value solutions."

Access RDI's Micron Technology, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=MU

NVIDIA Corporation's shares closed up 2.19% on Wednesday with around 17 million shares traded. It was a nice bounce back for the stock which saw losses on Tuesday after it was revealed that electric vehicle giant Tesla, who is one of NVIDIA's biggest customers, may replace the infotainment chips in its cars with ones made by rival Intel Corp. A Bloomberg report from Ian King revealed that Tesla will be using chips supplied by Intel and that its Model 3 and new versions of the Model X as well as Model S will rely on the chips from Intel. On a positive note, earlier in the week NVIDIA's CEO Jensun Huang announced that the company will supply its artificial intelligence-focused GPU hardware to several Chinese large cloud-computing providers and server-hardware manufacturers. Huang commented, "AI is the most important technology development of our time, with the greatest potential to help society. As the world's leading cloud providers deploy the world's best AI platform, with Volta GPUs and Nvidia software, we'll see amazing breakthroughs in medicine, autonomous transportation, precision manufacturing and much more.?

Access RDI's NVIDIA Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=NVDA

Our Actionable Research on Micron Technology, Inc. (NASDAQ: MU) and NVIDIA Corporation (NASDAQ: NVDA) can be downloaded free of charge at Research Driven Investing.

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