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Micron (MU) Stock Sinks As Market Gains: Here's Why
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In the latest close session, Micron (MU - Free Report) was down 3.44% at $776.01. The stock's change was less than the S&P 500's daily gain of 0.77%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 0.88%.
The stock of chipmaker has risen by 76.15% in the past month, leading the Computer and Technology sector's gain of 16.9% and the S&P 500's gain of 8.15%.
The upcoming earnings release of Micron will be of great interest to investors. On that day, Micron is projected to report earnings of $19.19 per share, which would represent year-over-year growth of 904.71%. Simultaneously, our latest consensus estimate expects the revenue to be $33.63 billion, showing a 261.54% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $58.46 per share and revenue of $110.02 billion, which would represent changes of +605.19% and +194.34%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Micron. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Right now, Micron possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Micron is currently exchanging hands at a Forward P/E ratio of 13.75. This indicates a discount in contrast to its industry's Forward P/E of 23.77.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 43, positioning it in the top 18% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Micron (MU) Stock Sinks As Market Gains: Here's Why
In the latest close session, Micron (MU - Free Report) was down 3.44% at $776.01. The stock's change was less than the S&P 500's daily gain of 0.77%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 0.88%.
The stock of chipmaker has risen by 76.15% in the past month, leading the Computer and Technology sector's gain of 16.9% and the S&P 500's gain of 8.15%.
The upcoming earnings release of Micron will be of great interest to investors. On that day, Micron is projected to report earnings of $19.19 per share, which would represent year-over-year growth of 904.71%. Simultaneously, our latest consensus estimate expects the revenue to be $33.63 billion, showing a 261.54% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $58.46 per share and revenue of $110.02 billion, which would represent changes of +605.19% and +194.34%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Micron. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Right now, Micron possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Micron is currently exchanging hands at a Forward P/E ratio of 13.75. This indicates a discount in contrast to its industry's Forward P/E of 23.77.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 43, positioning it in the top 18% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.