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Micron (MU) Dips More Than Broader Markets: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $56.98, moving -1.08% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Coming into today, shares of the chipmaker had lost 5.97% in the past month. In that same time, the Computer and Technology sector gained 0.99%, while the S&P 500 gained 0.84%.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be March 28, 2023. The company is expected to report EPS of -$0.63, down 129.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.81 billion, down 51.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.09 per share and revenue of $16.4 billion, which would represent changes of -125.03% and -46.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 244, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Micron (MU) Dips More Than Broader Markets: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $56.98, moving -1.08% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Coming into today, shares of the chipmaker had lost 5.97% in the past month. In that same time, the Computer and Technology sector gained 0.99%, while the S&P 500 gained 0.84%.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be March 28, 2023. The company is expected to report EPS of -$0.63, down 129.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.81 billion, down 51.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.09 per share and revenue of $16.4 billion, which would represent changes of -125.03% and -46.67%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. 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 244, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.