To The Moon

🇺🇸 stocks tanked as solid economic data fueled worries that the Fed’s monetary policy will hover at restrictive levels for longer than many investors have hoped. Economic data showed an upward revision to GDP & relatively low claims for unemployment benefits. With the penultimate week of 2022 drawing to a close, hopes of a "Santa Claus rally" in the last days are fading as investors prepare to close the book on the worst year for the stock market since 2008, the Great Recession ❌🎅❌

Popular chip stocks ALL 🛝🛝🛝🛝🛝 1.45%-8.65% after weak quarterly results from Micron Technology (MU) in addition to undesirable strong economic data🔥🥵🔥 $Micron Technology(MU)$  dropped 3.44%, setting a New 52-Week Low of $48.43. The next level of monthly support comes in at its Oct 2020 low of $46.50🐻🐻🐻

⚠️ MU Q1 Revenue: $4.08 billion missed estimates of $4.12 billion (a 46.86% decrease over sales of $7.69 billion in the same period last year).

⚠️ MU Q1 EPS: $(0.04) missed estimates of $(0.01) ➡️ which missed the analyst consensus estimate of a one-penny loss by 300%. This is a 101.85% decrease over earnings of $2.16 per share from the same period last year‼️

⚠️ A regulatory filing showed that MU entered into a restructuring plan in which it expects to reduce headcount by about 10%. In connection with the plan, the company expects to incur charges of at least $30 million in the Q2 of fiscal 2023🐻🐻🐻

$NVIDIA Corp(NVDA)$ dived 7.04% while $Advanced Micro Devices(AMD)$ dropped by 5.64%, sending $Semiconductor Bull 3X Shares(SOXL)$  to the bottom🪨🪨🪨 to close at $9.78 after a massive drop of 12.21%. Even the Buffett-backed TSM wasn’t spared from the bloodshed🩸dropping by 2.41%🫠

MU’s glum forecast added to the downbeat mood & caused the semiconductor index to sharply underperform the broader market for its BIGGEST daily decline in over a month🔥🥵🔥

Fellow 🐯🐯🐯, are you 🐂-ish or 🐻-ish for the chip sector in 2023❓I'm 🐻-ish for chip sector due to the recession risks. Do vote & share your thoughts in the comments section❣️ Please help to click on the “Like” & “Share/Repost” buttons at the bottom right corner so that more 🐯🐯🐯 can access this information, many thanks🤗

As usual-🤔💭 Consider POV & Actions of investors + 👩🏻‍💻👨🏻‍💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰

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