Weekly Market Overview
Micron Technology reported fiscal third‑quarter earnings of $25.11 per share, well above the consensus estimate of $20.49, and revenue of $41.46 billion versus the expected $35.69 billion. The strong results lifted the stock, which surged more than 15% on the earnings day and closed the week up approximately 5%. D.A. Davidson analyst Gil Luria raised his price target to $2,000 from $1,500 and kept a Buy rating, noting that tight supply‑demand dynamics in the memory market are likely to persist through at least 2027.
Apple Inc. saw its share price decline 6.4% over the week after reports that the company is increasing prices on Macs, iPads and accessories by 15% to 25%. Morgan Stanley analyst Erik Woodring described the hikes as unprecedented in the past 15 years and suggested they are intended to protect gross margins amid record memory‑cost inflation.
ON Semiconductor Corp. dropped 24% after announcing an all‑stock acquisition of Synaptics for an enterprise value of roughly $7 billion, representing about a 19% premium to Synaptics’ recent average price. TD Cowen analyst Joshua Buchalter downgraded the stock from Buy to Hold, reduced the price target from $115 to $110, and expressed concerns that the deal adds complexity to an already intricate business model.
The cryptocurrency‑linked stock Strategy fell more than 28% as Bitcoin slipped below the $60,000 level, underscoring the company’s leveraged exposure to digital assets and raising balance‑sheet concerns at lower coin prices.
Defensive rotation into large‑cap pharmaceuticals lifted Johnson & Johnson by 9.4%, Merck by 11.4% and Eli Lilly by 7.6%, with the sector attracting fresh capital amid broader market uncertainty.