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Micron Technology (MU - Free Report) announced that it has started shipping 3500 NVMe solid state drive (SSD), which is based on its 232-layer NAND technology. This product is set to reduce the time for loading games on computers, speed up content editing in 4K and 8K video formats and accelerate computing speeds for business applications and artificial intelligence (AI) workloads.
The 232-Layer NAND has been built to power data centers, consumer electronics, mobile devices and personal computers. During its release, the 232-Layer NAND stood out as the sole flash-memory technology, offering a 28% smaller package size than earlier Micron generations.
The compact size of the NAND contributes to the small and slim design of the Micron 3500 NVMe SSD. Introduced in the M.2 form factor, the Micron 3500 NVMe is ideal for powerful portable computers. Its compact dimensions allow it to take up less space while offering storage capacities of up to two terabytes.
Also, the SSD has DirectStorage APIs that work closely with the NVMe hardware to reduce the operating system’s workload significantly. This enables direct data transfer to the Graphics Processing Unit while achieving higher bandwidth with lower CPU usage. The Micron 3500 NVMe SSD is claimed to deliver top-notch Standard Performance Evaluation Corporation Workstation Performance Characterization (SPECwpc) capabilities, making it reliable for various real-world environments and diverse industry needs.
The recent product launch of 3500 NVMe SSD will strengthen the Data Center revenues of MU. The segment will also benefit from the recently launched 7500 NVMe SSD for data centers. Other recently introduced products that will aid the company's growth are Micron CZ120 memory expansion modules, Crucial T500 Gen4 NVMe SSD and 128GB DDR5 RDIMM for upgrading its 1-beta process node.
Micron is also addressing some near-term challenges, including issues related to customer inventory accumulation. However, MU's customers have made progress in reducing excess inventory of memory and storage products as demonstrated in the company’s fourth-quarter fiscal 2023 results.
Additionally, a growing number of cloud computing providers, the wider adoption of 5G cellular networks and the expansion of artificial intelligence are expected to fuel the demand for Micron's memory chips. The company is also investing domestically, including the establishment of a fab facility in Idaho, which will strengthen its global supply chain, catering to the expanding global AI market.
Zacks Rank & Stocks to Consider
Micron currently carries a Zacks Rank #3 (Hold). Shares of MU have gained 47.4% year to date.
The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 30 days. For fiscal 2023, earnings estimates have increased 30 cents to $7.26 per share in the past 30 days.
NTES' earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same on one occasion, the average surprise being 16.63%. Shares of NTES have gained 41.4% year to date.
The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised by 38 cents northward to $1.44 per share in the past 60 days. For fiscal 2024, earnings estimates have increased 72 cents to $6.28 in the past 60 days.
BELFB’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 56.92%. Shares of BELFB have surged 66.7% year to date.
The Zacks Consensus Estimate for Dropbox's fourth-quarter 2023 earnings has remained unchanged for the past 90 days at 48 cents per share. For fiscal 2023, earnings estimates have been revised 7 cents upward to $1.96 per share in the past 30 days.
DBX’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 13.14%. Shares of DBX have rallied 26.6% year to date.
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Micron (MU) Starts Shipping 232-layer NAND-Based 3500 NVMe SSD
Micron Technology (MU - Free Report) announced that it has started shipping 3500 NVMe solid state drive (SSD), which is based on its 232-layer NAND technology. This product is set to reduce the time for loading games on computers, speed up content editing in 4K and 8K video formats and accelerate computing speeds for business applications and artificial intelligence (AI) workloads.
The 232-Layer NAND has been built to power data centers, consumer electronics, mobile devices and personal computers. During its release, the 232-Layer NAND stood out as the sole flash-memory technology, offering a 28% smaller package size than earlier Micron generations.
The compact size of the NAND contributes to the small and slim design of the Micron 3500 NVMe SSD. Introduced in the M.2 form factor, the Micron 3500 NVMe is ideal for powerful portable computers. Its compact dimensions allow it to take up less space while offering storage capacities of up to two terabytes.
Also, the SSD has DirectStorage APIs that work closely with the NVMe hardware to reduce the operating system’s workload significantly. This enables direct data transfer to the Graphics Processing Unit while achieving higher bandwidth with lower CPU usage. The Micron 3500 NVMe SSD is claimed to deliver top-notch Standard Performance Evaluation Corporation Workstation Performance Characterization (SPECwpc) capabilities, making it reliable for various real-world environments and diverse industry needs.
Micron Technology, Inc. Price and Consensus
Micron Technology, Inc. price-consensus-chart | Micron Technology, Inc. Quote
Micron Benefits From Expanding Portfolio
The recent product launch of 3500 NVMe SSD will strengthen the Data Center revenues of MU. The segment will also benefit from the recently launched 7500 NVMe SSD for data centers. Other recently introduced products that will aid the company's growth are Micron CZ120 memory expansion modules, Crucial T500 Gen4 NVMe SSD and 128GB DDR5 RDIMM for upgrading its 1-beta process node.
Micron is also addressing some near-term challenges, including issues related to customer inventory accumulation. However, MU's customers have made progress in reducing excess inventory of memory and storage products as demonstrated in the company’s fourth-quarter fiscal 2023 results.
Additionally, a growing number of cloud computing providers, the wider adoption of 5G cellular networks and the expansion of artificial intelligence are expected to fuel the demand for Micron's memory chips. The company is also investing domestically, including the establishment of a fab facility in Idaho, which will strengthen its global supply chain, catering to the expanding global AI market.
Zacks Rank & Stocks to Consider
Micron currently carries a Zacks Rank #3 (Hold). Shares of MU have gained 47.4% year to date.
Some better-ranked stocks from the broader technology sector are NetEase (NTES - Free Report) and Bel Fuse (BELFB - Free Report) , Dropbox (DBX - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NetEase's fourth-quarter 2023 earnings has been revised upward by 10 cents to $1.83 per share in the past 30 days. For fiscal 2023, earnings estimates have increased 30 cents to $7.26 per share in the past 30 days.
NTES' earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, while missing the same on one occasion, the average surprise being 16.63%. Shares of NTES have gained 41.4% year to date.
The Zacks Consensus Estimate for Bel Fuse’s fourth-quarter fiscal 2023 earnings has been revised by 38 cents northward to $1.44 per share in the past 60 days. For fiscal 2024, earnings estimates have increased 72 cents to $6.28 in the past 60 days.
BELFB’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 56.92%. Shares of BELFB have surged 66.7% year to date.
The Zacks Consensus Estimate for Dropbox's fourth-quarter 2023 earnings has remained unchanged for the past 90 days at 48 cents per share. For fiscal 2023, earnings estimates have been revised 7 cents upward to $1.96 per share in the past 30 days.
DBX’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 13.14%. Shares of DBX have rallied 26.6% year to date.