Diamonds and Dogs
5/15/18
Chipmaker, Micron (MU) is up a percent on an upgrade from Stifel with a $101 price target or nearly 100% upside. Seasonally this is typically a slow time of the year, but Micron seems to be performing well. The company will have an analyst day on May 21st. Evercore ISI upgraded Micron the other day saying the free cash flow over the next 3 to 4 years will be enough to buy back half the outstanding shares. Cash is king.
A slow start to the spring season hurting Home Depot (HD) sales. Home Depot is down 2% following a disappointing quarter. Low mortgage rates and a tight job market has allowed consumers to spend more on buying homes or renovating them. But since the snow didn't leave the Northeast until a couple weeks ago, there was no need for lawn mowers, patio furniture, mulch, etc.Good news, demand should start to ramp up.
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