Investing.com’s stocks of the week

Investing.com -- A strong earnings showing for one memory stock was overshadowed by a rotation out of technology and into more defensive names, while Bitcoin's slide below $60,000 hit crypto-linked stocks over the past few days.

Here are Investing.com's stocks of the week:

Micron Technology

Micron was a standout earnings winner, surging more than 15% on Thursday before pulling back to close the week up around 5%.

The memory chipmaker delivered a blowout fiscal third quarter, reporting EPS of $25.11 against a consensus estimate of $20.49, on revenue of $41.46 billion versus expectations of $35.69 billion.

Fourth-quarter guidance of $49–$51 billion in revenue also came in well ahead of the $43.24 billion consensus.

DA Davidson analyst Gil Luria raised his price target to $2,000 from $1,500, maintaining a Buy rating. "We posit that Micron has entered an era where it has some of the semi industry's best visibility," Luria said, adding that tight supply-demand dynamics are expected to persist through at least 2027.

Apple

Apple is down 6.4% in the last week after reports emerged that the company is raising prices on Macs, iPads, and accessories by 15% to 25%.

Morgan Stanley analyst Erik Woodring described the scale of the increases as unprecedented over at least the past 15 years, outside of isolated model-level changes.

Woodring said the hikes suggest Apple is defending gross margins against record memory cost inflation rather than simply passing costs on.

ON Semiconductor

ON Semiconductor has plunged 24% so far on Friday after announcing an all-stock deal to acquire Synaptics for a total enterprise value of approximately $7 billion, representing a roughly 19% premium to Synaptics' recent trading average.

TD Cowen analyst Joshua Buchalter downgraded ON from Buy to Hold, cutting his price target to $110 from $115. "We believe in the organic auto/DC growth and cap return story but think the deal adds complexity to an already complicated model," Buchalter said.

Strategy

Strategy has tumbled more than 28% in the last week as Bitcoin has declined below the $60,000 level, highlighting the company's leveraged exposure to the cryptocurrency and renewing concerns about its balance sheet at depressed coin prices.

Pharma Stocks

Defensive rotation drove strong gains across large-cap pharma, with Johnson & Johnson, Merck, and Eli Lilly among the strong gainers over the last week as investors shifted away from technology.

J&J added 9.4%, Merck gained 11.4%, and Lilly jumped 7.6%, given a rally of more than 6% on Friday, as the sector drew fresh capital amid broader market uncertainty.

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