Markets cut a little higher overall this past week with the following 5-day record (close date at 3/26/2021):
Dow Jones 30: 33,072.88 (1.36%, year-to-date: 8.06%)
S&P 500: 3,974.54 (1.57%, year-to-date: 5.82%)
Nasdaq: 13,138.72 (-0.58%, year-to-date: 1.94%)
The Suez Canal, an avenue responsible for the passing of tons of consumer goods, was blocked this past week by container ship Ever Given after it wedged itself nearly sideways against the sides of the canal. Other ships delivering goods are looking to find a detours until it gets dislodged. Yikes, that's a lot of money potentially tied up in global trades.
Take a tax hike
All the talk about increasing corporate and high-earner taxes have some investors feeling an itch to pull the trigger on selling off stocks. President Biden's tax plan is eyeing an increase to corporate tax rates to 28%. The goal is to produce a couple trillion dollars in revenue.
Next Week's Earnings
McCormick & Co. (MKC) on 30th Mar 2021
PVH Corp. (PVH) on 30th Mar 2021
Micron Technology (MU) on 31st Mar 2021
Walgreens Boots Alliance (WBA) on 31st Mar 2021
Carmax Inc (KMX) on 1st Apr 2021
Carnival Corp. (CCL) on 2nd Apr 2021
Micron Technology (MU)
A part of the S&P 500, Micron Technology specializes specializes in computing memory and data storage hardware. Founded in 1978, MU spent its earlier years as a consulting company for semiconductor design. Now it's an 11-figure revenue company. If you've ever been a fan of putting together your own computer, you'll probably remember those hot, bright-red Crucial Ballistix RAM sticks.
Annual Top-Line Revenue:
Last 4 Earnings Result (from most recent):
Historical Stock Returns:
The past 1 to 5 years paints an optimistic picture. Here's an interesting tidbid though; MU reached its all time high earlier this month, breaking $94 per share. The last all time high was nearly 21 years ago at about $88 and some change per share. The dotcom bubble burst really took its toll on MU (and a lot of other companies). With both of these in mind, remember that past performance isn't always indicative of future results. Always tread lightly.
Who's does Micron Technology compete with?
MU competes with Intel (INTC), Western Digital Corporation (WDC), and Seagate Technology (STX).
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