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Micron (MU) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Micron (MU - Free Report) closed at $752.24, marking a -1.29% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 0.19%.
Shares of the chipmaker have appreciated by 58.2% over the course of the past month, outperforming the Computer and Technology sector's gain of 11.38%, and the S&P 500's gain of 5.51%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company is forecasted to report an EPS of $19.34, showcasing a 912.57% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $33.63 billion, indicating a 261.54% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $58.94 per share and a revenue of $110.03 billion, representing changes of +610.98% and +194.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Micron. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.2% rise in the Zacks Consensus EPS estimate. Micron presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 12.93. This represents a discount compared to its industry average Forward P/E of 25.95.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 55, positioning it in the top 23% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Micron (MU) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Micron (MU - Free Report) closed at $752.24, marking a -1.29% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.37%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 0.19%.
Shares of the chipmaker have appreciated by 58.2% over the course of the past month, outperforming the Computer and Technology sector's gain of 11.38%, and the S&P 500's gain of 5.51%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company is forecasted to report an EPS of $19.34, showcasing a 912.57% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $33.63 billion, indicating a 261.54% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $58.94 per share and a revenue of $110.03 billion, representing changes of +610.98% and +194.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Micron. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.2% rise in the Zacks Consensus EPS estimate. Micron presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Micron is currently trading at a Forward P/E ratio of 12.93. This represents a discount compared to its industry average Forward P/E of 25.95.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 55, positioning it in the top 23% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.