Market Recap – December 20
Nike on Monday reported better-than-expected fiscal second-quarter results, despite ongoing supply chain pressures that have slowed deliveries and threatened to upend the holiday shopping season. The American global computer technology company reported earnings of $0.83 per share, vs. analysts’ expectations of $0.63 per share. Revenue grew 1% to $11.36 billion vs. $11.25 billion as expected by analysts.
Micron Technology, Inc.
Micron Technology shares headed higher after the memory-chip company posted strong results while providing better-than-expected forecasts for the current quarter. For the fiscal first quarter, Micron reported revenue of $7.69 billion, up 33% from a year ago, and marginally ahead of the company’s target of $7.65 billion, though down 7% sequentially. Non-GAAP profits were $2.16 per share, above the company’s target of $2.10 per share.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.