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Micron (MU) Increases Yet Falls Behind Market: What Investors Need to Know

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Micron (MU - Free Report) ended the recent trading session at $70.42, demonstrating a +1.47% swing from the preceding day's closing price. The stock lagged the S&P 500's daily gain of 1.89%. Meanwhile, the Dow gained 1.7%, and the Nasdaq, a tech-heavy index, added 1.78%.

The chipmaker's stock has climbed by 1.89% in the past month, exceeding the Computer and Technology sector's loss of 0.81% and the S&P 500's loss of 1.14%.

Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$1.05, signifying a 2525% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.41 billion, showing an 8.01% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.98 per share and revenue of $20.75 billion, indicating changes of +55.51% and +33.54%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Micron should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.29% decrease. Micron is currently sporting a Zacks Rank of #3 (Hold).

The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

To follow MU in the coming trading sessions, be sure to utilize Zacks.com.


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