Diamonds and Dogs
No trade tariff problem for Micron (MU). The DRAM chipmaker is up 2% today on an upgrade and up nearly 50% since the June lows. The Longbow research analyst raised his rating on Micron to a buy from neutral with a new price target of $66 a share. The analyst believes the excess inventory of chips will be depleted faster than expected, triggering an improvement in pricing and margins ahead of current expectations. With a lot of manufacturing in Asia, particularly China, its surprising to see the stock do so well with the China/ US trade tariff issues in the background.
GameStop's (GME) stock has stopped going up. The video game retailer is down 10% today and down 75% in the last two years. Last night, the company reported disappointing earnings and lowered guidance. The good news is the company is still profitable and continues to cut costs, but longer-term demand is moving online to streaming. GameStop may go the way of Blockbuster someday.
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