Tech Stocks Skyrocket: Micron, JD, PDD, Trip, Alibaba Forge Strategic Growth Paths
Thursday, Sep 26, 2024 6:30 pm ET
1min read 1. Micron Technology (Nasdaq: MU)
Micron Technology surged by 14.73%. Micron Technology reported FY24 revenue of $25.11 billion and net income of $778 million. Morgan Stanley maintained its Equal-Weight rating, while Susquehanna and Needham reiterated positive ratings with price targets of $165 and $140, respectively. AI storage demand supports optimistic outlook.
2. Jd (Nasdaq: JD)
Jd surged by 14.39%. JD.com plans to integrate Alipay before Singles' Day, enhancing collaboration with Alibaba. This move marks increased cooperation, including logistics integration with Cainiao. JD.com continues to strengthen its sustainable pricing strategy through quality and efficient supply chains.
3. Pdd Holdings (Nasdaq: PDD)
Pdd Holdings surged by 13.57%. Pinduoduo's transaction value on September 26 reached $6.293 billion, marking a significant increase of 359.25% from the previous day.
4. Trip Group Limited (Nasdaq: TCOM)
Trip Group Limited surged by 10.96%. Trip.com expands regional tourism resources through strategic partnership with Guangwu Mountain, while Prosus fully divests its stake, grossing $1.6 billion. Trip.com also launches "Era Style" themed travel section, with Morgan Stanley raising its price target from $59 to $61.
5. Alibaba Group Holding Limited (NYSE: BABA)
Alibaba Group Holding Limited surged by 10.04%. Alibaba announced a strategic partnership with Zhejiang News Group to drive cultural and tech integration. Additionally, Alibaba is investing 1 billion HKD to make Hong Kong a free shipping zone starting October 1. Alibaba will also integrate JD Logistics into its Taobao and Tmall platforms.
Micron Technology surged by 14.73%. Micron Technology reported FY24 revenue of $25.11 billion and net income of $778 million. Morgan Stanley maintained its Equal-Weight rating, while Susquehanna and Needham reiterated positive ratings with price targets of $165 and $140, respectively. AI storage demand supports optimistic outlook.
2. Jd (Nasdaq: JD)
Jd surged by 14.39%. JD.com plans to integrate Alipay before Singles' Day, enhancing collaboration with Alibaba. This move marks increased cooperation, including logistics integration with Cainiao. JD.com continues to strengthen its sustainable pricing strategy through quality and efficient supply chains.
3. Pdd Holdings (Nasdaq: PDD)
Pdd Holdings surged by 13.57%. Pinduoduo's transaction value on September 26 reached $6.293 billion, marking a significant increase of 359.25% from the previous day.
4. Trip Group Limited (Nasdaq: TCOM)
Trip Group Limited surged by 10.96%. Trip.com expands regional tourism resources through strategic partnership with Guangwu Mountain, while Prosus fully divests its stake, grossing $1.6 billion. Trip.com also launches "Era Style" themed travel section, with Morgan Stanley raising its price target from $59 to $61.
5. Alibaba Group Holding Limited (NYSE: BABA)
Alibaba Group Holding Limited surged by 10.04%. Alibaba announced a strategic partnership with Zhejiang News Group to drive cultural and tech integration. Additionally, Alibaba is investing 1 billion HKD to make Hong Kong a free shipping zone starting October 1. Alibaba will also integrate JD Logistics into its Taobao and Tmall platforms.
