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Micron (MU) Rises As Market Takes a Dip: Key Facts
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Micron (MU - Free Report) ended the recent trading session at $65.65, demonstrating a +1.74% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.48%. At the same time, the Dow lost 1.12%, and the tech-heavy Nasdaq gained 0.38%.
The chipmaker's shares have seen a decrease of 1.03% over the last month, surpassing the Computer and Technology sector's loss of 3.16% and the S&P 500's loss of 2.65%.
Market participants will be closely following the financial results of Micron in its upcoming release. In that report, analysts expect Micron to post earnings of -$1.05 per share. This would mark a year-over-year decline of 2525%. At the same time, our most recent consensus estimate is projecting a revenue of $4.41 billion, reflecting an 8.01% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.98 per share and a revenue of $20.75 billion, signifying shifts of +55.51% and +33.54%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 30.29% fall in the Zacks Consensus EPS estimate. At present, Micron boasts a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Micron (MU) Rises As Market Takes a Dip: Key Facts
Micron (MU - Free Report) ended the recent trading session at $65.65, demonstrating a +1.74% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.48%. At the same time, the Dow lost 1.12%, and the tech-heavy Nasdaq gained 0.38%.
The chipmaker's shares have seen a decrease of 1.03% over the last month, surpassing the Computer and Technology sector's loss of 3.16% and the S&P 500's loss of 2.65%.
Market participants will be closely following the financial results of Micron in its upcoming release. In that report, analysts expect Micron to post earnings of -$1.05 per share. This would mark a year-over-year decline of 2525%. At the same time, our most recent consensus estimate is projecting a revenue of $4.41 billion, reflecting an 8.01% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.98 per share and a revenue of $20.75 billion, signifying shifts of +55.51% and +33.54%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 30.29% fall in the Zacks Consensus EPS estimate. At present, Micron boasts a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.