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Micron (MU) Gains But Lags Market: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $55.35, moving +0.87% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.43%. Meanwhile, the Dow gained 1.58%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the chipmaker had lost 12.24% over the past month. This has lagged the Computer and Technology sector's gain of 8.36% and the S&P 500's gain of 5.12% in that time.
Micron will be looking to display strength as it nears its next earnings release, which is expected to be December 21, 2022. In that report, analysts expect Micron to post earnings of $0.01 per share. This would mark a year-over-year decline of 99.54%. Our most recent consensus estimate is calling for quarterly revenue of $4.12 billion, down 46.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.30 per share and revenue of $17.56 billion, which would represent changes of -103.59% and -42.92%, respectively, from the prior year.
Any recent changes to analyst estimates for Micron should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 235.5% lower. Micron currently has a Zacks Rank of #4 (Sell).
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Micron (MU) Gains But Lags Market: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $55.35, moving +0.87% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.43%. Meanwhile, the Dow gained 1.58%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Prior to today's trading, shares of the chipmaker had lost 12.24% over the past month. This has lagged the Computer and Technology sector's gain of 8.36% and the S&P 500's gain of 5.12% in that time.
Micron will be looking to display strength as it nears its next earnings release, which is expected to be December 21, 2022. In that report, analysts expect Micron to post earnings of $0.01 per share. This would mark a year-over-year decline of 99.54%. Our most recent consensus estimate is calling for quarterly revenue of $4.12 billion, down 46.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.30 per share and revenue of $17.56 billion, which would represent changes of -103.59% and -42.92%, respectively, from the prior year.
Any recent changes to analyst estimates for Micron should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 235.5% lower. Micron currently has a Zacks Rank of #4 (Sell).
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.