WSB Hot Discussion | Leading Semiconductor? Micron Tech Soars 17% in Pre-market Trading
Micron Technology's performance is excellent, and its stock price soared. This trend was already evident on March 18th, when it also made it to the list of hotly discussed stocks
DWAC, a Trump concept stock, is the hottest, rising 17.8% overnight. Trump has recently been involved in legal disputes again, as they say, "the more famous, the more controversy."
Semiconductor companies are performing well, with pre-market gains across the board. Micron Tech (MU) surged 17%, exceeding expectations with AI revolution driving a significant increase in storage demand. The second quarter revenue growth is nearly four times that of the previous quarter, with operating profit exceeding $200 million, unexpectedly turning losses into profits. Revenue guidance for the third quarter is expected to increase by over 70% year-on-year.
Micron Tech stated that the second quarter will be the first revenue-generating quarter for supplying NVIDIA with HBM3E. The product has been sold out this year, with most of next year's orders already filled. HBM is expected to generate hundreds of millions of dollars in revenue by fiscal year 2024, and its revenue is expected to positively impact DRAM business and overall gross margin from the third quarter onwards. Strong demand for AI servers is having a positive ripple effect on all memory markets.
The surge of Micron Tech was foreseeable as early as March 18, when it was also on the hotly discussed stock list:
WSB Discussion | Is Micron Tech the next hot semiconductor stock?
NVIDIA, AMD, and Intel rose over 1% in pre-market trading, while TSMC and SMCI rose by over 3%.
Reddit, going public tonight, ranks seventh in popularity. Reddit, the stronghold of retail investors, is highly anticipated for its IPO, with over 73 million DAUs, including over 15 million retail investors in the investment channel WallStreetBets. It is worth mentioning that its IPO valuation is nearly half of that in 2021, which is good news for retail investors.
Tesla ranks ninth in popularity, continuing its rebound trend overnight. Tesla announced a "price increase of 5000 yuan," and Lei Jun commented, "I truly admire it. Currently, only Tesla dares to raise prices in the electric vehicle market." Generally, Tesla's prices fluctuate with raw material and manufacturing costs.
Blockchain concept stocks MARA and MSTR surged overnight, with BTC experiencing a slight rebound after several days of decline, rising by 6% in the past 24 hours.
Boeing ranks twelfth in popularity, seeing a rare rebound overnight, up by 3.6%. In recent months, it has been declining continuously due to the "safety gate" incident.
Data source: Reddit WSB channel, most discussed stocks in the past 24 hours
Note:
The Wall Street Bets (WSB) channel on Reddit was created in 2012. This investment community has attracted over 15 million users and is a gathering place for retail investors to discuss US stocks. The stocks discussed in this channel are often the hottest at the moment, and due to the channel's influence, they may drive stock price movements Risk Warning:
Stocks discussed on WSB may experience significant volatility due to retail investors' enthusiasm or abandonment, especially for small companies (such as 2021's GameStop GME and AMC). Please be aware of the risks