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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 7% at $795.23. This change lagged the S&P 500's 1.58% gain on the day. Elsewhere, the Dow gained 3.03%, while the tech-heavy Nasdaq added 1.44%.
Coming into today, shares of the chipmaker had lost 18.22% in the past month. In that same time, the Computer and Technology sector lost 12.04%, while the S&P 500 lost 1.97%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company is predicted to post an EPS of $38.2, indicating a 699.16% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $62.04 billion, up 354.75% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $177.73 per share and a revenue of $277.58 billion, demonstrating changes of +135.34% and +108.41%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.69% increase. As of now, Micron holds a Zacks Rank of #1 (Strong Buy).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 4.81. This valuation marks a discount compared to its industry average Forward P/E of 15.33.
Meanwhile, MU's PEG ratio is currently 0.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Integrated Systems was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 Sinks As Market Gains: Here's Why
In the latest close session, Micron (MU - Free Report) was down 7% at $795.23. This change lagged the S&P 500's 1.58% gain on the day. Elsewhere, the Dow gained 3.03%, while the tech-heavy Nasdaq added 1.44%.
Coming into today, shares of the chipmaker had lost 18.22% in the past month. In that same time, the Computer and Technology sector lost 12.04%, while the S&P 500 lost 1.97%.
Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company is predicted to post an EPS of $38.2, indicating a 699.16% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $62.04 billion, up 354.75% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $177.73 per share and a revenue of $277.58 billion, demonstrating changes of +135.34% and +108.41%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Micron. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.69% increase. As of now, Micron holds a Zacks Rank of #1 (Strong Buy).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 4.81. This valuation marks a discount compared to its industry average Forward P/E of 15.33.
Meanwhile, MU's PEG ratio is currently 0.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Integrated Systems was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.