Micron Technology (MU) Dips Despite Strong Market Performance
Micron Technology, Inc. (MU) closed the latest trading session at $59.60, marking a 0.41% move from the previous day’s stock price. The chipmaker witnessed a gain of 0.67% in the previous month, outperforming the computer technology sector’s gain of 0.27% and the S&P 500’s gain of 0.41%. Investors are keeping a close eye on Micron’s upcoming earnings disclosure, as the company’s earnings report is set to be released on December 21st. Analysts project that Micron’s earnings per share would represent a year-over-year decline. Meanwhile, the latest consensus estimates predict revenue of $7.67 billion, indicating an increase compared to the previous year’s quarter. Looking at the full year, Zacks Consensus Estimates suggest that analysts expect earnings per share of $5.49 and revenue of $30.11 billion, which would mark a change from last year. Additionally, investors are keeping an eye on recent revisions to analyst forecasts for Micron. Recent revisions tend to reflect the latest near-term business trends, hence positive alterations to estimates signify analysts’ optimism regarding the company’s business and profitability. Based on research, it is believed that estimate revisions are directly related to near-term stock moves and investor capital. Using the Zacks Rank model, which considers estimate changes, provides a simple action rating
Micron Technology, Inc. (MU) closed the latest trading session at $59.60, marking a 0.41% move from the previous day’s stock price. The chipmaker witnessed a gain of 0.67% in the previous month, outperforming the computer technology sector’s gain of 0.27% and the S&P 500’s gain of 0.41%. Investors are keeping a close eye on Micron’s upcoming earnings disclosure, as the company’s earnings report is set to be released on December 21st. Analysts project that Micron’s earnings per share would represent a year-over-year decline. Meanwhile, the latest consensus estimates predict revenue of $7.67 billion, indicating an increase compared to the previous year’s quarter. Looking at the full year, Zacks Consensus Estimates suggest that analysts expect earnings per share of $5.49 and revenue of $30.11 billion, which would mark a change from last year. Additionally, investors are keeping an eye on recent revisions to analyst forecasts for Micron. Recent revisions tend to reflect the latest near-term business trends, hence positive alterations to estimates signify analysts’ optimism regarding the company’s business and profitability. Based on research, it is believed that estimate revisions are directly related to near-term stock moves and investor capital. Using the Zacks Rank model, which considers estimate changes, provides a simple action rating
Micron Technology (MU) Dips Despite Strong Market Performance
Micron Technology, Inc. (MU) closed the latest trading session at $93.50, marking a move of -0.34% from the previous day’s close. The stock has experienced a 1.38% gain elsewhere, while the Dow gained 0.55% and the tech-heavy Nasdaq advanced 0.73%. Among chipmakers, Micron witnessed a gain of 0.78%, outperforming the broader market.
Micron’s upcoming earnings disclosure has drawn the attention of investors, with the company’s earnings report set to be released on December 20th. Analysts project that the company’s earnings per share would represent a year-over-year decline. Meanwhile, the latest consensus estimates predict revenue of $4.67 billion, indicating an increase compared to the previous year’s quarter. Looking at the full year, Zacks Consensus Estimates suggest that analysts expect earnings per share of $24.26 and revenue of $19.24 billion, which would mark a change of -38.2% and 1.6% respectively compared to last year.
Additionally, investors are keeping an eye on recent revisions to analyst forecasts for Micron. Recent revisions tend to reflect the latest near-term business trends, hence positive alterations to estimates are significant indicators of analyst optimism regarding the company’s business and profitability. Based on research, it is believed that estimate revisions are directly related to near-term stock moves and investor capital.
Utilizing Zacks Rank model, which considers estimate changes and provides a simple action rating system, investors can gain insights into the potential performance of Micron. The Zacks Rank system ranges from Strong Buy to Strong Sell, possessing a remarkable history of outperforming external audit stock return averages. The annual gain since the past month has been 26.2%. Currently, Zacks Consensus EP estimates have moved higher for Micron, and the stock currently sports a Zacks Rank of #3 (Hold).
The semiconductor memory industry, part of the computer technology sector, currently carries a Zacks Industry Rank of 165th place within the top 250 industries. The Zacks Industry Rank assesses the strength of separate industry groups by calculating the average Zacks Rank of individual stocks contained within the group. Research shows that top-rated industries outperform the bottom half by a factor of more than 2 to 1.
To gain further insights into Micron’s latest trade session, visit Zacks.com where you can access the latest recommendations from Zacks Investment Research. To read the full article, click here: Zacks Investment Research.