Sharp Sell-Off in Semiconductor Stocks Creates Attractive Entry Points for Wide-Moat WFE Firms
On Sept. 6, a flurry of news items sent semiconductor stocks lower as investors appeared to grow wary as the current upswing gets long in the tooth. Shares of Micron and KLA-Tencor were two of the hardest hit names, down 10% each. Both firms attended Citi’s 2018 Global Technology Conference, with management providing updates to their respective company’s prospects. Micron’s CFO David Zinsner noted NAND pricing declined in the third quarter, which was to be expected, in our view. Meanwhile, KLA’s...Micron Technology provides memory and storage solutions. The company's portfolio of memory and storage technologies include Dynamic Random Access Memory, Not And, 3D XPoint? memory, and Not Or. The company's segments are: Compute and Networking Business, which includes memory products sold into client, cloud server, enterprise, graphics, and networking markets; Mobile Business, which includes memory products sold into smartphone and other mobile-device markets; Storage Business, which includes Solid-State Drives and component-level solutions sold into enterprise and cloud, client, and consumer storage markets; and Embedded Business, which includes memory and storage products.
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