Add as a preferred source on GoogleAnalysts Upgrade Micron, Rivian as Amazon Faces Margin Pressure
Micron’s upgrade cited artificial-intelligence inference demand and shareholder catalysts, while Rivian drew support from delivery growth and R2 SUV adoption.
Analysts upgraded Micron Technology and Rivian Automotive while downgrading Amazon as concerns over costs and e-commerce growth weighed on the retail and cloud giant. The analyst roundup was published Oct. 12 at 10:47 a.m. ET (14:47 UTC).
Micron’s upgrade reflected expected shareholder-related catalysts and demand for artificial-intelligence inference, the process of using AI models to generate results. The company makes memory chips used in computing and data-center systems.
Rivian’s upgrade focused on stronger deliveries, adoption of its R2 SUV, improving revenue and the company’s prospects for reaching profitability. The R2 is Rivian’s next-generation electric SUV.
Amazon’s downgrade centered on margin pressure from inflation, higher fuel costs and increased interest expenses. Analysts also pointed to the possibility of slower e-commerce growth.
Advanced Micro Devices also appeared in the analyst roundup.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.