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Micron (MU) Stock Moves -0.14%: What You Should Know
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Micron (MU - Free Report) closed at $57.82 in the latest trading session, marking a -0.14% move from the prior day. This change was narrower than the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq added 0.84%.
Prior to today's trading, shares of the chipmaker had lost 6.17% over the past month. This has lagged the Computer and Technology sector's loss of 1.67% and the S&P 500's loss of 2% in that time.
Micron will be looking to display strength as it nears its next earnings release, which is expected to be March 28, 2023. The company is expected to report EPS of -$0.63, down 129.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.81 billion, down 51.1% from the prior-year quarter.
MU's full-year Zacks Consensus Estimates are calling for earnings of -$2.09 per share and revenue of $16.4 billion. These results would represent year-over-year changes of -125.03% and -46.67%, respectively.
It is also important to note the recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Micron is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.
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Micron (MU) Stock Moves -0.14%: What You Should Know
Micron (MU - Free Report) closed at $57.82 in the latest trading session, marking a -0.14% move from the prior day. This change was narrower than the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq added 0.84%.
Prior to today's trading, shares of the chipmaker had lost 6.17% over the past month. This has lagged the Computer and Technology sector's loss of 1.67% and the S&P 500's loss of 2% in that time.
Micron will be looking to display strength as it nears its next earnings release, which is expected to be March 28, 2023. The company is expected to report EPS of -$0.63, down 129.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.81 billion, down 51.1% from the prior-year quarter.
MU's full-year Zacks Consensus Estimates are calling for earnings of -$2.09 per share and revenue of $16.4 billion. These results would represent year-over-year changes of -125.03% and -46.67%, respectively.
It is also important to note the recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Micron is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow MU in the coming trading sessions, be sure to utilize Zacks.com.