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Micron (MU) Gains But Lags Market: What You Should Know
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In the latest trading session, Micron (MU - Free Report) closed at $61.23, marking a +1.19% move from the previous day. This change lagged the S&P 500's 1.85% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 13.7%.
Prior to today's trading, shares of the chipmaker had gained 3.33% over the past month. This has outpaced the Computer and Technology sector's loss of 1.62% and the S&P 500's loss of 0.87% in that time.
Micron will be looking to display strength as it nears its next earnings release. On that day, Micron is projected to report earnings of -$1.57 per share, which would represent a year-over-year decline of 160.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.69 billion, down 57.26% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of -$4.71 per share and revenue of $15.45 billion. These results would represent year-over-year changes of -156.41% and -49.78%, respectively.
It is also important to note the recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.64% lower. Micron currently has a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 124, putting it in the top 50% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Micron (MU) Gains But Lags Market: What You Should Know
In the latest trading session, Micron (MU - Free Report) closed at $61.23, marking a +1.19% move from the previous day. This change lagged the S&P 500's 1.85% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 13.7%.
Prior to today's trading, shares of the chipmaker had gained 3.33% over the past month. This has outpaced the Computer and Technology sector's loss of 1.62% and the S&P 500's loss of 0.87% in that time.
Micron will be looking to display strength as it nears its next earnings release. On that day, Micron is projected to report earnings of -$1.57 per share, which would represent a year-over-year decline of 160.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.69 billion, down 57.26% from the year-ago period.
MU's full-year Zacks Consensus Estimates are calling for earnings of -$4.71 per share and revenue of $15.45 billion. These results would represent year-over-year changes of -156.41% and -49.78%, respectively.
It is also important to note the recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.64% lower. Micron currently has a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 124, putting it in the top 50% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.