Investing.com’s stocks of the week

Investing.com — This week, several stocks hit the headlines, with some experiencing significant price movements. Here are Investing.com’s stocks of the week:

China Stocks

Several U.S.-listed Chinese names made significant gains this week. Alibaba (NYSE:BABA) and PDD Holdings Inc DRC (NASDAQ:PDD) make it onto our Stocks of the Week list, with gains of over 20% and more than 34%, respectively (as of 1:30 pm ET Friday, September 27), in the last week. PDD is now trading at levels last seen in August, while Alibaba is trading around prices last seen in February 2023. 

The increase in stocks with a significant China focus follows the People’s Bank of China (PBOC) announcement of a comprehensive stimulus package aimed at boosting the economy.

“Today’s announcement from the PBOC beat market expectations and is arguably the most comprehensive easing since 2015,” the bank wrote in a note to clients. They explained that the policy moves aim to restore market confidence amidst ongoing economic challenges, including fragile domestic demand and deflationary pressures.

Micron Technology

Micron Technology Inc (NASDAQ:MU) shares rallied more than 20% in the last week, with the majority of its gains coming on Thursday after a 14.7% increase from Wednesday’s close following its latest quarterly earnings release. 

Micron reported Q4 earnings per share (EPS) of $1.18, $0.07 better than the analyst estimate of $1.11, while revenue for the quarter came in at $7.75 billion, topping the consensus estimate of $7.65 billion.

Its guidance was also positive, with Micron saying it sees Q1 2025 EPS of $1.74, above the consensus of $1.52. Its Q1 2025 revenue guidance range of $8.5 billion to $8.9 billion was also better than the consensus of $8.32 billion.

Following the results, several Wall Street analysts reiterated their bullish stances on the stock. An analyst at Mizuho told investors that the MU rally “will sustain and pull in many of these long/short haters who will flip from short to long, at least for the near term.”

Intel

It was an eventful week for Intel Corporation (NASDAQ:INTC), which climbed around 14%. Firstly, there were reports that Qualcomm (NASDAQ:QCOM) had approached Intel about a takeover. Then, it was reported that U.S.-based asset management company Apollo Global Management (NYSE:APO) had offered to make an investment of as much as $5 billion in the company. Analysts said a potential takeover by Qualcomm is likely to face major challenges.

“Similar to other proposed mega-deals that were unable to clear high regulatory hurdles… we believe that a Qualcomm/INTC deal would be unlikely to garner regulatory approval,” said Stifel. 

Citi analysts went further, dismissing the idea, saying it is “almost too silly to comment on,” adding that such a move would be detrimental to Intel shareholders. 

Later in the week, Bloomberg reported Intel had rejected Arm’s approach about potentially acquiring the company’s product division. Arm was said to have been told that the business was not for sale. Finally, the Financial Times reported Intel and the U.S. government will likely finalize $8.5 billion in direct funding for the chipmaker before the end of the year.