Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
AKTIEN
Micron Technology (MU) surged almost 20% yesterday after UBS Group tripled its price target for the computer memory giant. Shares in the company are up 200% so far this year and yesterday’s move officially tipped Micron’s market cap over the $1 trillion threshold. Should the UBS target come to fruition, Micron would boast a larger market cap than either Tesla or Meta at their current valuations. The semiconductor sector in general rose strongly on Tuesday, with Advanced Micro Devices (AMD), SanDisk (SNDK) and Western Digital (WDC) all rising the better part of 8%, pushing both the S&P 500 and Nasdaq to new record highs. The momentum carried over into the Asian session this morning after Samsung announced a significant pay package to its employees as part of a deal that staved off an 18-day strike set to begin last week. Shares in the South Korean monolith jumped 7% as the news emerged. Optimism in Artificial Intelligence likewise pushed a number of Japanese companies higher this morning, lifting the Nikkei 225 above 66,000 points for the first time in its history.
Broader markets have been relatively quiet so far this week due to the uncertainty surrounding the US Iran peace deal. While some progress appears to have been made, hostilities are obviously far from over given the continued attacks across the region and particularly in Lebanon. Despite everything, crude oil prices are staying put in the mid-to-low $90 range as markets await more concrete developments to push prices more convincingly in one direction or another. Traders can be excused for feeling rather bored over the past week or so, with very little price action to speak of in currencies, precious metals or even crypto, leaving stock markets to do most of the heavy lifting. The quiet may be broken tomorrow with the publication of a wide range of US economic data, including the latest PCE price index, Q1 GDP, as well as durable goods orders, followed later in the day by Dell earnings.
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