We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Micron (MU) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
Micron (MU - Free Report) closed the most recent trading day at $73.69, moving -0.81% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.06%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 0.31%.
The chipmaker's shares have seen an increase of 1.88% over the last month, not keeping up with the Computer and Technology sector's gain of 5.53% and the S&P 500's gain of 5.1%.
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. The company's upcoming EPS is projected at -$1.01, signifying a 2425% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.6 billion, up 12.6% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.51 per share and a revenue of $21.58 billion, demonstrating changes of +66.07% and +38.84%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 20.38% higher. Right now, Micron possesses a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Micron (MU) Suffers a Larger Drop Than the General Market: Key Insights
Micron (MU - Free Report) closed the most recent trading day at $73.69, moving -0.81% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.06%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 0.31%.
The chipmaker's shares have seen an increase of 1.88% over the last month, not keeping up with the Computer and Technology sector's gain of 5.53% and the S&P 500's gain of 5.1%.
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. The company's upcoming EPS is projected at -$1.01, signifying a 2425% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.6 billion, up 12.6% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.51 per share and a revenue of $21.58 billion, demonstrating changes of +66.07% and +38.84%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 20.38% higher. Right now, Micron possesses a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.