The three main actions in June

Coinbase led the way, but what other actions followed?

The actions maintained their impulse in June, closing one of the best quarters in several years.

The technological actions led the increase, since the Nasdaq Composite rose 6.6% last month, while the S&P 500 won 4.9% and the industrial average Dow Jones rose 4.3%.

It should not surprise that the three main actions of the S&P 500 in June were all technological actions.

Here are the 3 main actions of the S&P 500 in June

Global coinbase

Global coinbase (Nasdaq: Coin), the cryptocurrency exchange platform, was the best performance in June, with a return of approximately 41% last month. Coinbase shares ended the month by around $ 350 per share, rising around 41% so far this year.

Coinbase had fluctuated with Bitcoin’s ups and downs and other cryptocurrencies during the first five months of the year, but the actions really took off during the last two weeks of June.

There was a particular event that promoted Coinbase upwards in June, the approval by the US Senate of the Genius Law, which creates a regulatory framework for the stablecoins in the US when the genius law was approved on June 17, Coinbase was quoted around $ 257 per share. The increase of 36% to $ 350 per share was almost entirely due to emotion around this important legislative advance.

A regulatory framework for Stablecoins will improve the general attraction of the stablcoins and will lead to an expansion of the offer and a larger market, which will benefit Coinbase.

Coinbase actions are being negotiated 65 times the profits after the increase. The average objective price is $ 293 per share, which suggests a drop of 13%.

Oracle

Oracle (NASDAQ: ORCL) is a venerable name in the world of technology, known for its business software products suite for business. But in recent years he has opted more for data storage and AI cloud services, promoted by the increase in AI data centers.

Earlier this year, Oracle announced that it was part of a massive effort of 500,000 million dollars to build data centers in the US, and the fruits of that began to be shown in the last quarter.

The reason why Oracle’s shares rose around 32% in June to approximately $ 219 per share was because he published his profits in June. Most technology companies have already published profits at the end of a quarter, but Oracle has the distinction of doing it towards the end of the quarter.

Oracle published his profits from the fourth fiscal quarter on June 11 and the price of the shares rose around 15% the next day. Oracle had a great quarter, overcoming estimates, but investors were more excited for their solid perspective, driven by new associations and enormous expected growth of a triplicate of data centers associations in multiple clouds.

Oracle has a 50 per 50 and an average target price of 220 per share, which suggests a growth of 1%.

Micron Technology

Micron Technology (Nasdaq: MU) It is another great technology company that informs its late profits in the quarter, but it was not the profits that promoted its 31% increase in June.

Micron, which manufactures memory and storage chips, received an impulse from a June 12 advertisement that Micron is expanding its investments in the manufacture of memory chips in the US. That includes approximately 150,000 million dollars in national memory manufacturing and 50,000 million dollars in R&D. In addition, Micron plans to invest another 30,000 million dollars to build manufacturing facilities in Boise, Manassas, Va., And New York.

The profits were published on June 25, and Micron’s actions actually fell a little, despite having a solid quarter and a better perspective than expected. It may have been in reaction to the actions were too hot, since around 44% have risen so far this year.

Micron is negotiating only the profits and 10 times future profits. It still has great growth potential with an target price of $ 150 per share, indicating a return of 24% in next year.