Hudbay MineralsNYSE: HBM

Micron Technology reported FY2024 results and outlook, disappointing investors' high AI expectations after the June rally. We say load up on the pullback. Our positive outlook is based on our expectations of higher DRAM sales due to AI-driven demand for HBM and the arrival of AI PC in 2025. We expect hyper-demand from AI for HBM to put DRAM into shortage for the next 1-2 years, at least.

High bandwidth memory is a game changer in the world of AI. It's also a big boost to memory-chip makers like Micron, Samsung and SK Hynix.

I am reiterating my Buy rating due to strong pricing dynamics and expected significant uplift in HBM revenues. The memory market is highly cyclical, with recent capacity constraints and strong demand leading to price increases and strong sales growth for Micron. Micron was late to the HBM market but is gaining share, and I believe the company is likely to beat on estimates in Q3 with compelling results and guidance.

Micron Technology is set to report earnings on June 26, 2024, with 26 positive and 1 negative EPS revision by analysts. MU is ramping up production of HBM3E and expects to see an increase in sales in e2h24 with strong tailwinds in eFY25. The Company should realize strong tailwinds driven by AI servers and the next refresh cycle for general compute servers with the release of HBM4E.

TORONTO, May 24, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) ( TSX, NYSE: HBM) is pleased to announce that the Company has closed its previously announced public offering of common shares of the Company (the “Common Shares”). The underwriters exercised the full over-allotment option to purchase an additional 15% of the Common Shares in connection with the Offering. The Company issued, on a bought deal basis, 42,366,000 Common Shares, including 5,526,000 Common Shares pursuant to the exercise of the over-allotment option, at a price of US$9.50 per Common Share for aggregate gross proceeds of US$402,477,000 (the “Offering”).

Samsung Electronics' latest high bandwidth memory (HBM) chips have yet to pass Nvidia's tests for use in the U.S. firm's AI processors due to heat and power consumption problems, three people briefed on the issues said.

TORONTO, May 21, 2024 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “company”) ( TSX, NYSE: HBM) today announced that each of the ten individuals nominated for election as a director of Hudbay at the company's Annual and Special Meeting of Shareholders held on May 21, 2024 was elected.

TAIPEI, Taiwan--(BUSINESS WIRE)-- #AI--TrendForce forecasts HBM3e production will account for 35% of advanced process output by the end of 2024, driven by strong demand and profitability.

Although the financial results of HudBay Minerals (HBM) for the quarter ending March 2024 provide an overview of the company's performance, it may be beneficial to analyze how certain important metrics stack up against analyst expectations and previous year's figures.