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Highlights
- Gogo Inc. (NASDAQ:GOGO) raised its long-term financial targets from its earlier projection.
- The revenue of Micron Technology, Inc. (NASDAQ:MU) was US$27.70 billion in FY21.
- MU projected its revenue to be around US$7.65 billion in Q1, FY22.
Stocks of Gogo Inc. (NASDAQ:GOGO) and Micron Technology, Inc. (NASDAQ:MU) were trending on Wall Street Wednesday. GOGO fell around 2 percent, while MU traded flat.
GOGO traded at US$16.46 at 9:51 am ET, down 2.14 percent from its previous closing price, while MU stock ticked down 0.36 percent to US$72.84 at 9:52 am ET on September 29.
Let's take a closer look at the companies' recent development.
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Gogo Inc. (NASDAQ:GOGO)
Gogo Inc. is a Chicago, Illinois-based Internet company that provides in-flight internet services and other related communication services in the aircraft industry.
The company announced on September 28 that it raised its long-term financial targets from its earlier projection. It now expects its revenue growth at a compounded annual growth rate of around 15 percent between 2020 and 2025, from its earlier forecast of 10 percent.
The adjusted EBITDA margin of the firm is expected to increase from 40 percent in 2021 to 45 percent in 2025, while its earlier projection was 35 percent to 40 percent.
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The firm has a market cap of US$1.79 billion and a forward P/E one year of 186.89. Its EPS is US$-1.68.
The highest and lowest prices of the company's stocks for the last 52 weeks were US$17.75 and US$8.02, respectively. Its trading volume was 44,198,040 on September 28.
The company's total revenue was US$82.37 million in Q2, FY21, compared to US$54.63 million in the second quarter of the prior year. It reported a net loss of US$69.24 million, or a loss of US$0.63 per share, compared to a loss of US$85.97 million, or a loss of US$1.05 per share in Q2, FY20.
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Micron Technology, Inc. (NASDAQ:MU)
Micron is a technology company based in Boise, Idaho. It manufactures various products like computer memory, data storage, flash drives, etc.
The company reported its earnings on Tuesday at the market close. The memory chipmaker has signaled that the slowing demand from personal computer makers is affecting its sales and profit forecast.
The revenue was US$8.27 billion in Q4, FY21, against US$7.42 billion in the previous quarter of FY21, while it was US$6.06 billion in the previous year's fourth quarter. Its GAAP operating income was US$2.95 billion compared to US$1.15 billion in the year-ago quarter.
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The GAAP net income attributable to the company was US$2.72 billion, or US$2.39 per diluted share, compared to US$988 million, or US$0.87 per diluted share, in Q4, FY21. For the full fiscal 2021, the company's GAAP net income was US$5.86 billion, or US$5.14 per diluted share, on revenue of US$27.70 billion.
The company projected its revenue to be approximately US$7.65 billion in Q1, fiscal 2022.
The market cap of the company is US$81.83 billion, the P/E ratio is 14.11, and the forward P/E one-year ratio is 6.40. Its EPS is US$5.15.
The highest and lowest stock prices for the last 52 weeks were US$96.96 and US$46.50, respectively. Its share volume on September 28 was 27,311,540.
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Bottomline
The GOGO stock soared 75.76 percent YTD, while MU fell 1.28 percent YTD. The S&P 500 information technology sector rose 15.42 percent YTD while increasing 1.93 percent QTD. The sector's PE 33.06. The tech sector has recorded significant growth in the last few quarters. However, the stocks have been retreating recently as bond prices rose amid market volatility.
