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FTXL

PSI

Wedbush analyst Matt Bryson maintained Micron Technology Inc (NASDAQ:MU) with an Outperform rating and raised the price target from $95 to $103, citing strong DRAM and NAND pricing. Micron is expected to exceed its initial guidance for the quarterly earnings report on March 20, due to higher retail, spot, and forward contract prices. Bryson predicts DRAM contract Average Selling Prices (ASPs) to increase by nearly 20% in Q1, with NAND contracts performing even stronger. Despite a cautious outlook for the second half of the year, Micron's fiscal 2025 EPS estimates have been modestly increased. Micron's advancements in High Bandwidth Memory (HBM) and its competitive position in DRAM and NAND technologies suggest a strong outlook. Invesco Semiconductors ETF (NYSE:PSI) and First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) are mentioned as ways to gain exposure to Micron.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 6:58 pm

AAPL

B of A Securities analyst Wamsi Mohan reiterated a Buy rating on Apple Inc (NASDAQ:AAPL) with a $225 price target, highlighting Apple's effective pricing strategy and services as key drivers of market growth. Apple has expanded its iPhone price range significantly since 2007, catering to both premium and lower segments, which has helped grow its installed base to 1.2 billion in 2023. Despite a decline in unit sales, particularly in China, Apple has increased its market share and dominates the premium segment. The used iPhone market also contributes to Apple's ecosystem, with a notable increase in services revenue per device from $50.59 in 2019 to $73.01 in 2023. Mohan projects Apple's fiscal 2024 revenue at $396.24 billion, above the consensus of $388.05 billion.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 6:52 pm

ANAB

LLY

AnaptysBio Inc (NASDAQ:ANAB) reported a Q4 2023 EPS of $(1.59), slightly better than expected, and sales of $9.01 million, surpassing forecasts. With $417 million in cash, it's set to last through 2026. Wedbush upgraded ANAB from Neutral to Outperform with a $34 target, citing upcoming clinical triggers. Meanwhile, Eli Lilly (NYSE:LLY) showed mixed results for peresolimab, suggesting an opportunity for ANAB's rosnilimab.

Portfolio Pulse from Vandana Singh

March 12, 2024 | 6:48 pm

AVAXUSD

Avalanche (AVAX) is trading higher by 11.5% at $53.51, influenced by Bitcoin's new all-time high of $72,000. The rise in Bitcoin's price attracts new investors to the cryptocurrency market, benefiting altcoins like Avalanche. Avalanche's innovative consensus mechanism and scalability focus contribute to its positive performance. Increased attention and funding for projects on Avalanche could further enhance its value.

Portfolio Pulse from Henry Khederian

March 12, 2024 | 6:44 pm

DLTR

Dollar General Corp (NYSE:DG) is anticipated to report Q4 earnings with an expected revenue of $9.78 billion and EPS of $1.75, compared to last year's $10.2 billion and $2.96 respectively. Analysts highlight the potential impact of SNAP benefits changes and inflation on consumer behavior. JPMorgan upgraded DG from Underweight to Neutral with a price target of $158, citing improved store standards and customer service. Goldman Sachs notes DG's prices are about 5% lower than Family Dollar (NASDAQ:DLTR), potentially influencing consumer choice. The company's 'Back to Basics' strategy and its own private fleet development are also focal points.

Portfolio Pulse from Chris Katje

March 12, 2024 | 6:39 pm

BTDR

B. Riley Securities analyst Lucas N. Pipes initiated coverage on Bitdeer Technologies Group (NASDAQ:BTDR) with a Buy rating and a $9 price target. Bitdeer, with operations in the U.S., Norway, and Bhutan, has reduced electricity costs significantly, benefiting from carbon-free power. The company is expanding in Norway and is expected to launch its first-generation BTC mining chip in Q4 FY24. Pipes estimates EBITDA and EPS of $171.6 million and $0.01, respectively, for FY24. BTDR shares are currently down 1.92% at $6.21.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 6:27 pm

AEM

DUST

FNV

GOLD

NEM

NUGT

WPM

Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) experienced a consolidation on Tuesday after a significant rise, moving in tandem with a decrease in spot gold prices. The ETF, which aims to outperform the NYSE Arca Gold Miners Index by 200%, saw a downturn on decreasing volume, suggesting a pause rather than a shift in market control. NUGT's top holdings include Newmont Corp (NEM), Barrick Gold Corp (GOLD), Agnico Eagle Mines Ltd (AEM), Wheaton Precious Metals Corp (WPM), and Franco-Nevada Corp (FNV). The article also mentions Direxion Daily Gold Miners Index Bear 2X Shares (DUST) for bearish traders.

Portfolio Pulse from Melanie Schaffer

March 12, 2024 | 6:16 pm

RUM

Rumble, Inc. (NASDAQ:RUM) has expressed interest in becoming a cloud technology partner for TikTok, as revealed in an offer letter posted by CEO Chris Pavlovski. The letter highlights Rumble's recent launch of the Rumble Cloud, emphasizing its secure, US-based infrastructure. The news has sparked discussions among traders on Stocktwits, with many seeing significant growth potential for Rumble if it becomes TikTok's partner, especially in light of potential bipartisan support to ban TikTok unless it meets certain requirements. Rumble's stock was trending on Stocktwits, with a notable increase in trading volume and a 17.6% rise in share price to $7.86.

Portfolio Pulse from Erica Kollmann

March 12, 2024 | 6:01 pm

ETH-USD

On Monday, 14,216.86 Ether (ETH) worth approximately $56M was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -18.30% yesterday.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:00 pm

RIVN

TSLA

Rivian Automotive Inc (RIVN) held its R2/R3 launch event, receiving positive feedback from investors and RBC Capital. Analyst Tom Narayan reiterated a Sector Perform rating with a $15 price target, noting Rivian's strategy changes, including production shifts and battery options, could accelerate profitability. However, concerns about competition and EV demand persist, advising investors to wait for proof of profitable vehicle production.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 5:48 pm