Sandisk, Micron Seen as Weak Links as Traders Await Berkshire Earnings

Sandisk and Micron stand out as market laggards

Sandisk and Micron Technology were described as looking “broken” as investors assessed technology stocks following a broad sell-off in major indexes and an uneven rebound. The assessment was published before the next regular trading session, so it represented a market commentary rather than a confirmed new operating or sales event.

Apple, Amazon and Microsoft fare better

The same pre-market assessment said Apple, Amazon.com and Microsoft were trading near buy points, although it noted that the three companies were not immune to the broad sell-off. It also said most consumer, financial and medical stocks that had recently advanced were similarly affected, leading the analysis to recommend a defensive posture and closer watchlists.

Berkshire earnings provide the next market test

Berkshire Hathaway was scheduled to report earnings, with operating earnings expected to decline 6% to $5.88 per B-class share while revenue was expected to rise 6% to $100.96 billion. Investors were expected to focus on how CEO Greg Abel deploys Berkshire’s cash for equity purchases and buybacks and whether he makes significant changes to Warren Buffett’s approach.

Futures trading did not guarantee a market recovery

Dow Jones futures were scheduled to open at 6 p.m. ET on Sunday with S&P 500 and Nasdaq-100 futures. The report cautioned that overnight futures activity does not necessarily translate into the next regular stock-market session.

What to watch next

The next verifiable milestones were Berkshire Hathaway’s scheduled earnings release and the opening of Dow Jones, S&P 500 and Nasdaq-100 futures at 6 p.m. ET Sunday. The reviewed material did not establish actual timing for Berkshire’s release, a reported Sandisk sales result or a confirmed recovery in either Sandisk or Micron shares.