Yahoo Finance Micron (MU) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Micron (MU) closed at $67.06, marking a -0.71% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, lost 4.19%.
Prior to today's trading, shares of the chipmaker had gained 10.85% over the past month. This has lagged the Computer and Technology sector's gain of 11.14% and outpaced the S&P 500's gain of 3.78% in that time.
Micron will be looking to display strength as it nears its next earnings release, which is expected to be June 28, 2023. In that report, analysts expect Micron to post earnings of -$1.57 per share. This would mark a year-over-year decline of 160.62%. Meanwhile, our latest consensus estimate is calling for revenue of $3.69 billion, down 57.26% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4.71 per share and revenue of $15.45 billion, which would represent changes of -156.41% and -49.78%, respectively, from the prior year.
Any recent changes to analyst estimates for Micron should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Micron is currently a Zacks Rank #5 (Strong Sell).
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 250, putting it in the bottom 1% 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 Technology, Inc. (MU) : Free Stock Analysis Report
