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Semiconductor Stocks Up. No Reason.
Yesterday after the bell, Micron MU 0.00%↑ reported a dreadful quarter. The stock closed up 7.5% today.
Nvidia NVDA 0.00%↑ fundamentals remain appalling. No growth and cashflow margins the company would have found embarrassing in the not so distant past. The stock closed at $270 today vs. the $110 low it struck only six months ago. Even more amazingly, the stock is less than 25% from its all-time-highs.
Intel? You can guess the script. Fundamentals horrible. Closed today at $31.50, up 28% from its 2022 lows, looking like it can move up a lot further.
If you’d like to know why this apparent nonsense has happened - and where these stocks may be headed next?
Then Join us on our Pro Tier webinar today at 5pm Eastern.
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Cestrian Capital Research, Inc - 29 March 2023.
DISCLOSURE - Cestrian Capital Research, Inc staff personal accounts hold long positions in INTC and NVDA.