Why Artificial Intelligence and Tech Hardware Stocks Soared on Friday
Tech stocks were the stars of the equities market on Friday, with a wide range of them jumping higher in price across the trading session. That followed the impressive quarterly results and guidance proffered by a top name in the hardware field. Artificial intelligence (AI) was at the heart of that outperformance, so AI stocks were -- hardly for the first time in recent months -- a particular target of the bulls.
That's why it helped if a company had "AI" baked into its name, as evidenced by BigBear.ai Holdings' (NYSE: BBAI) 3% gain. Hardware and component makers did well thanks to the aforementioned peer, with Broadcom (NASDAQ: AVGO) advancing by almost 8% and Micron Technology (NASDAQ: MU) rising 5%. Taiwan Semiconductor Manufacturing (NYSE: TSM) and Super Micro Computer (NASDAQ: SMCI) both pushed more than 4% higher.
The spark that produced the explosion was the fourth-quarter earnings report released after market close Thursday by storied hardware specialist Dell Technologies (NYSE: DELL). The company soundly beat the average analyst estimate for net income while edging past that for revenue.
Source Fool.com
Micron Technology Inc. Stock
Currently there is a rather positive sentiment for Micron Technology Inc. with 98 Buy predictions and 5 Sell predictions.
With a target price of 119 € there is a positive potential of 29.52% for Micron Technology Inc. compared to the current price of 91.88 €.
