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Micron (MU) Gains As Market Dips: What You Should Know

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Micron (MU - Free Report) closed the latest trading day at $123, indicating a +1.45% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow lost 0.21%, and the tech-heavy Nasdaq gained 0.29%.

Shares of the chipmaker witnessed a loss of 1.04% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.39% and the S&P 500's gain of 1.29%.

Investors will be eagerly watching for the performance of Micron in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.46, showcasing a 132.17% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $6.62 billion, showing a 76.36% escalation compared to the year-ago quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.80 per share and a revenue of $24.53 billion, representing changes of +117.98% and +57.82%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Micron is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, Micron is holding a Forward P/E ratio of 150.74. This expresses no noticeable deviation compared to the average Forward P/E of 150.74 of its industry.

The Semiconductor Memory industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 4, finds itself in the top 2% echelons 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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