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Industry
Micron shares slip in premarket ahead of earnings, Wall Street raises price targets
Micron shares fell in premarket trading ahead of its earnings report. The stock was down 1.32 percent at $1,068 as of 8:36 a.m., after closing up 0.16 percent at $1,082.28 in the prior regular session. Wall Street’s assessment was broadly positive, with Baird raising its price target and JPMorgan maintaining an overweight rating and target price. Analysts cited improving memory-market conditions.
Crypto
SpaceX shares surge again as Musk cites $1 trillion revenue goal by 2030
SpaceX shares extended gains for a second day after its listing, pushing the company’s market value above $2.5 trillion. The rally followed comments by CEO Elon Musk that SpaceX could reach $1 trillion in annual revenue by 2030, drawing money from retail investors and cryptocurrency traders. Trading also surged in related crypto derivatives and tokenised stock products. Analysts cited a wide gap between current results and the target and differing views on valuation and capital spending.
Telecommunications & Media
Amazon eyes smartphone return after 10 years, developing AI-focused device
Amazon is seeking a return to the smartphone market after 10 years, with a new handset being developed under the internal codename \"Transformer\". Reuters reported, citing multiple sources, that Amazon is developing the phone within its devices and services division. The device is positioned as an Alexa-linked personalised mobile device. Sources said the project, led by Amazon\'s ZeroOne team, centres on AI functions that could replace traditional app-store downloads.
