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In the latest trading session, Micron (MU - Free Report) closed at $77.10, marking a +0.51% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.46%.
Shares of the chipmaker witnessed a gain of 12.69% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.89% and the S&P 500's gain of 7.62%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to go public on December 20, 2023. On that day, Micron is projected to report earnings of -$1.02 per share, which would represent a year-over-year decline of 2450%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.43 billion, indicating an 8.54% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.93 per share and revenue of $20.95 billion. These totals would mark changes of +56.63% and +34.78%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Micron. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has moved 1.61% higher. Micron is currently sporting 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 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Micron (MU) Laps the Stock Market: Here's Why
In the latest trading session, Micron (MU - Free Report) closed at $77.10, marking a +0.51% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.41%. Elsewhere, the Dow gained 0.53%, while the tech-heavy Nasdaq added 0.46%.
Shares of the chipmaker witnessed a gain of 12.69% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.89% and the S&P 500's gain of 7.62%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to go public on December 20, 2023. On that day, Micron is projected to report earnings of -$1.02 per share, which would represent a year-over-year decline of 2450%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.43 billion, indicating an 8.54% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.93 per share and revenue of $20.95 billion. These totals would mark changes of +56.63% and +34.78%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Micron. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has moved 1.61% higher. Micron is currently sporting 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 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.