The wall street was surprised when the 50$ billion dollar chipmaker, Micron Technologies, announced Nov Q1 results. You will see why.
The company reported earnings/share about 8 times higher than last year (quarter-on-quarter basis). The rise was from 32 cents to a remarkable 2.45$. Is that all?
Also, the company beat the expectations by analysts by a big margin. The expectation was just 2.20$ per share. The deviation from the expected figure was above 10%. And how did the market react?
No wonders, the market closed on a high during Monday evening (Dec, 19). The price closed at 43.98. This is higher than Friday nights close by about 4%. How the company produced a positive delight for wall street…
A short (superficial) statement by the CEO mentions – cost competitiveness, increased gross margins and some strategic decisions as reasons for positive results. However, one this is clear, the company knows what it is doing and is doing right!