NEW YORK, NY / ACCESSWIRE / May 22, 2017 / Global semiconductor sales have shown steady growth throughout 2017. The Semiconductor Industry Association (SIA) reported worldwide sales of semiconductors totaled $30.9 billion for the month of March 2017, representing a year-over-year increase of 18.1 percent. Global sales totaled $92.6 billion in the first quarter of 2017, which was coincidentally also an increase of 18.1 percent year-year-over.

"Global semiconductor sales saw solid sales growth in March, increasing sharply compared to last year and more modestly compared to last month," said John Neuffer, president and CEO of SIA. "Global sales are up 18% compared to last year, the largest increase since October 2010, with all major regional markets posting double-digit year-to-year growth. All major semiconductor product categories also experienced year-to-year growth, with memory products continuing to lead the way."

RDI Initiates Coverage on:

Micron Technology, Inc.
https://ub.rdinvesting.com/news/?ticker=MU

Intel Corp.
https://ub.rdinvesting.com/news/?ticker=INTC

Micron Technology's shares increased 1.24 percent to close at $27.82 a share on Friday. The stock traded between $27.73 and $28.16 on volume of 19.17 million shares traded. The company reported revenues were $4.65 billion for the second quarter of fiscal 2017, which ended March 2nd, 2017, an increase of 17 percent sequentially and an increase of 58 percent year-over-year. GAAP net income was $894 million, or $0.77 per diluted share, for the second quarter of fiscal 2017, compared to a net income of $180 million, or $0.16 per diluted share, for the first quarter of fiscal 2017. Shares of Micron Technology have gained approximately 26.92 percent year-to-date.

"Strong demand and limited industry supply for NAND and DRAM solutions, combined with significant progress on our cost reduction plan, produced excellent results for our second quarter," said Micron CEO Mark Durcan. "I'm proud of the team's execution on critical technology and operational initiatives, which will allow us to continue to capitalize on market trends."

Access RDI's Micron Technology Research Report at:
https://ub.rdinvesting.com/news/?ticker=MU

Intel's shares jumped increased 0.51 percent to close at $35.40 a share on Friday. The stock traded between $35.13 and $35.55 on volume of 18.34 million shares traded. The company reported record revenues of $14.8 billion for the first quarter of 2017, an increase of 8 percent on a GAAP basis and 7 percent on a non-GAAP basis year-over-year. GAAP net income was $3.0 billion for the first quarter of 2017, compared to $2.0 billion in the same quarter a year ago. Shares of Intel have fallen approximately 2.4 percent year-to-date.

"The first quarter was another record quarter, coming off a record 2016. We continued to grow our company, shipped our disruptive new Optane memory technology, and positioned Intel to lead in new areas like artificial intelligence and autonomous driving," said Brian Krzanich, Intel CEO. "The ASP strength we saw across nearly every segment of the business demonstrates continued demand for high-performance computing, which will only increase with the explosion of data."

Access RDI's Intel Research Report at:
https://ub.rdinvesting.com/news/?ticker=INTC

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

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SOURCE: RDInvesting.com