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Micron (MU) Gains But Lags Market: What You Should Know
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Micron (MU - Free Report) closed at $67.87 in the latest trading session, marking a +0.62% move from the prior day. This change lagged the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Coming into today, shares of the chipmaker had gained 4.35% in the past month. In that same time, the Computer and Technology sector gained 10.86%, while the S&P 500 gained 5.41%.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be June 28, 2023. The company is expected to report EPS of -$1.57, down 160.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.69 billion, down 57.26% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.71 per share and revenue of $15.45 billion, which would represent changes of -156.41% and -49.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Micron is currently a Zacks Rank #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 121, putting it in the top 49% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Micron (MU) Gains But Lags Market: What You Should Know
Micron (MU - Free Report) closed at $67.87 in the latest trading session, marking a +0.62% move from the prior day. This change lagged the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Coming into today, shares of the chipmaker had gained 4.35% in the past month. In that same time, the Computer and Technology sector gained 10.86%, while the S&P 500 gained 5.41%.
Investors will be hoping for strength from Micron as it approaches its next earnings release, which is expected to be June 28, 2023. The company is expected to report EPS of -$1.57, down 160.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.69 billion, down 57.26% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.71 per share and revenue of $15.45 billion, which would represent changes of -156.41% and -49.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Micron is currently a Zacks Rank #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 121, putting it in the top 49% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.