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Micron (MU) Dips More Than Broader Market: What You Should Know
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Micron (MU - Free Report) ended the recent trading session at $647.17, demonstrating a -2.91% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.38%. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.13%.
The stock of chipmaker has risen by 63.89% in the past month, leading the Computer and Technology sector's gain of 22.04% and the S&P 500's gain of 11.41%.
The upcoming earnings release of Micron will be of great interest to investors. The company's earnings per share (EPS) are projected to be $19.19, reflecting a 904.71% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $33.63 billion, up 261.54% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $58.37 per share and revenue of $110.07 billion, indicating changes of +604.1% and +194.47%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Micron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Right now, Micron possesses a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Micron currently has a Forward P/E ratio of 11.42. This expresses a discount compared to the average Forward P/E of 23.74 of its industry.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 10% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Micron (MU) Dips More Than Broader Market: What You Should Know
Micron (MU - Free Report) ended the recent trading session at $647.17, demonstrating a -2.91% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.38%. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.13%.
The stock of chipmaker has risen by 63.89% in the past month, leading the Computer and Technology sector's gain of 22.04% and the S&P 500's gain of 11.41%.
The upcoming earnings release of Micron will be of great interest to investors. The company's earnings per share (EPS) are projected to be $19.19, reflecting a 904.71% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $33.63 billion, up 261.54% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $58.37 per share and revenue of $110.07 billion, indicating changes of +604.1% and +194.47%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Micron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Right now, Micron possesses a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Micron currently has a Forward P/E ratio of 11.42. This expresses a discount compared to the average Forward P/E of 23.74 of its industry.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 10% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.