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Micron (MU) Stock Dips While Market Gains: Key Facts
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The latest trading session saw Micron (MU - Free Report) ending at $89, denoting a -1.57% adjustment from its last day's close. This change lagged the S&P 500's 1.04% gain on the day. Elsewhere, the Dow saw an upswing of 0.76%, while the tech-heavy Nasdaq appreciated by 1.03%.
Shares of the chipmaker witnessed a loss of 30.81% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 13.91% and the S&P 500's loss of 6.74%.
The investment community will be paying close attention to the earnings performance of Micron in its upcoming release. The company is forecasted to report an EPS of $1.08, showcasing a 200.93% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.65 billion, up 90.85% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.16 per share and a revenue of $24.93 billion, indicating changes of +126.07% and +60.42%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Micron is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Micron currently has a Forward P/E ratio of 78.04. This signifies no noticeable deviation in comparison to the average Forward P/E of 78.04 for its industry.
The Semiconductor Memory industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 5, this industry ranks in the top 2% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Micron (MU) Stock Dips While Market Gains: Key Facts
The latest trading session saw Micron (MU - Free Report) ending at $89, denoting a -1.57% adjustment from its last day's close. This change lagged the S&P 500's 1.04% gain on the day. Elsewhere, the Dow saw an upswing of 0.76%, while the tech-heavy Nasdaq appreciated by 1.03%.
Shares of the chipmaker witnessed a loss of 30.81% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 13.91% and the S&P 500's loss of 6.74%.
The investment community will be paying close attention to the earnings performance of Micron in its upcoming release. The company is forecasted to report an EPS of $1.08, showcasing a 200.93% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.65 billion, up 90.85% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.16 per share and a revenue of $24.93 billion, indicating changes of +126.07% and +60.42%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Micron is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Micron currently has a Forward P/E ratio of 78.04. This signifies no noticeable deviation in comparison to the average Forward P/E of 78.04 for its industry.
The Semiconductor Memory industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 5, this industry ranks in the top 2% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.