Micron Technology has announced that it will open a new memory design center in Atlanta, Georgia, in the Midtown area. Going into operation from January 2022, the new center will allow Micron to access the area’s engineering talent and allow it to shape increasingly advanced memory systems. In particular, the company aims to forge strong ties with universities such as Emory University, Georgia Tech, Morehouse College, Spelman College and the University of Georgia. The new Atlanta Design Center will have up to 500 highly skilled jobs. Also in recent days Cowen and Company has raised the target price from $80 to $99.
Micron Technology [MU.O] grew to $84.8 in pre-trading (+2.8%). On Friday, it closed at $82.45 (+1%). Micron Technology’s intonation remains positive, which after a strong rise up to almost $90 has started physiological profit taking, returning to support at $80. For those who had already holding the stock, we see no reason to exit and we confirm the target at $90 and then, on a break of this level, to the all-time highs of $97. For those wishing to try an entrance, this seems to be interesting as $80 is an important support.
We recommend going LONG on the stock by buying the Leverage Shares Micron Technology 2x ETP (ISIN: IE00BKT66K01) with an increase in exposure on possible decreases towards $80, with a short-term target towards $90 and later, in case of a breakout, at $97. Alert/stop loss should be below $77 (closing daily).
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Sandeep joined Leverage Shares in September 2020. He leads research on existing and new product lines, asset classes, and strategies, with special emphasis on analysis of recent events and developments.
Sandeep has longstanding experience with financial markets. Starting with a Chicago-based hedge fund as a financial engineer, his career has spanned a variety of domains and organizations over a course of 8 years – from Barclays Capital’s Prime Services Division to (most recently) Nasdaq’s Index Research Team.
Sandeep holds an M.S. in Finance as well as an MBA from Illinois Institute of Technology Chicago.
Violeta joined Leverage Shares in September 2022. She is responsible for conducting technical analysis, macro and equity research, providing valuable insights to help shape investment strategies for clients.
Prior to joining LS, Violeta worked at several high-profile investment firms in Australia, such as Tollhurst and Morgans Financial where she spent the past 12 years of her career.
Violeta is a certified market technician from the Australian Technical Analysts Association and holds a Post Graduate Diploma of Applied Finance and Investment from Kaplan Professional (FINSIA), Australia, where she was a lecturer for a number of years.
Julian joined Leverage Shares in 2018 as part of the company’s premier expansion in Eastern Europe. He is responsible for web content and raising brand awareness.
Julian has been academically involved with economics, psychology, sociology, European politics & linguistics. He has experience in business development and marketing through business ventures of his own.
For Julian, Leverage Shares is an innovator in the field of finance & fintech, and he always looks forward with excitement to share the next big news with investors in the UK & Europe.
Oktay joined Leverage Shares in late 2019. He is responsible for driving business growth by maintaining key relationships and developing sales activity across English-speaking markets.
He joined LS from UniCredit, where he was a corporate relationship manager for multinationals. His previous experience is in corporate finance and fund administration at firms like IBM Bulgaria and DeGiro / FundShare.
Oktay holds a BA in Finance & Accounting and a post-graduate certificate in Entrepreneurship from Babson College. He is also a CFA charterholder.
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