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Micron (MU) Stock Moves -0.48%: What You Should Know
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Micron (MU - Free Report) closed the most recent trading day at $85.75, moving -0.48% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.61% for the day. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Shares of the chipmaker witnessed a gain of 4.64% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.53% and outperforming the S&P 500's gain of 3.28%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.28, marking an 85.34% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.32 billion, reflecting a 44.1% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.43 per share and a revenue of $22.18 billion, representing changes of +90.34% and +42.76%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.13% higher within the past month. Micron is holding a Zacks Rank of #2 (Buy) right now.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Micron (MU) Stock Moves -0.48%: What You Should Know
Micron (MU - Free Report) closed the most recent trading day at $85.75, moving -0.48% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.61% for the day. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Shares of the chipmaker witnessed a gain of 4.64% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 5.53% and outperforming the S&P 500's gain of 3.28%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.28, marking an 85.34% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.32 billion, reflecting a 44.1% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.43 per share and a revenue of $22.18 billion, representing changes of +90.34% and +42.76%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.13% higher within the past month. Micron is holding a Zacks Rank of #2 (Buy) right now.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.