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Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Micron (MU - Free Report) closed at $856.49, marking a -6.26% move from the previous day. This move lagged the S&P 500's daily loss of 1.21%. Meanwhile, the Dow experienced a rise of 0.02%, and the technology-dominated Nasdaq saw a decrease of 2.6%.
Heading into today, shares of the chipmaker had lost 14.76% over the past month, lagging the Computer and Technology sector's loss of 3.87% and the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Micron in its forthcoming earnings report. On that day, Micron is projected to report earnings of $38.2 per share, which would represent year-over-year growth of 699.16%. Alongside, our most recent consensus estimate is anticipating revenue of $62.04 billion, indicating a 354.75% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $177.73 per share and revenue of $277.53 billion, which would represent changes of +135.34% and +108.37%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 11.57% upward. Currently, Micron is carrying a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Micron is holding a Forward P/E ratio of 5.14. This expresses a discount compared to the average Forward P/E of 19.6 of its industry.
Meanwhile, MU's PEG ratio is currently 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Integrated Systems industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Micron (MU - Free Report) closed at $856.49, marking a -6.26% move from the previous day. This move lagged the S&P 500's daily loss of 1.21%. Meanwhile, the Dow experienced a rise of 0.02%, and the technology-dominated Nasdaq saw a decrease of 2.6%.
Heading into today, shares of the chipmaker had lost 14.76% over the past month, lagging the Computer and Technology sector's loss of 3.87% and the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Micron in its forthcoming earnings report. On that day, Micron is projected to report earnings of $38.2 per share, which would represent year-over-year growth of 699.16%. Alongside, our most recent consensus estimate is anticipating revenue of $62.04 billion, indicating a 354.75% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $177.73 per share and revenue of $277.53 billion, which would represent changes of +135.34% and +108.37%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 11.57% upward. Currently, Micron is carrying a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Micron is holding a Forward P/E ratio of 5.14. This expresses a discount compared to the average Forward P/E of 19.6 of its industry.
Meanwhile, MU's PEG ratio is currently 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Integrated Systems industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.