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Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know
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Micron (MU - Free Report) closed the latest trading day at $103.18, indicating a -1.13% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.43%. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 0.47%.
The the stock of chipmaker has fallen by 4.46% in the past month, lagging the Computer and Technology sector's gain of 0.32% and the S&P 500's gain of 2.6%.
The investment community will be paying close attention to the earnings performance of Micron in its upcoming release. In that report, analysts expect Micron to post earnings of $1.43 per share. This would mark year-over-year growth of 240.48%. At the same time, our most recent consensus estimate is projecting a revenue of $7.9 billion, reflecting a 35.6% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.72 per share and a revenue of $35.22 billion, representing changes of +416.92% and +40.27%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Micron. Such recent modifications usually signify the changing landscape of 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.7% decrease. As of now, Micron holds a Zacks Rank of #4 (Sell).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 15.54. This valuation marks a discount compared to its industry's average Forward P/E of 16.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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) Falls More Steeply Than Broader Market: What Investors Need to Know
Micron (MU - Free Report) closed the latest trading day at $103.18, indicating a -1.13% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.43%. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 0.47%.
The the stock of chipmaker has fallen by 4.46% in the past month, lagging the Computer and Technology sector's gain of 0.32% and the S&P 500's gain of 2.6%.
The investment community will be paying close attention to the earnings performance of Micron in its upcoming release. In that report, analysts expect Micron to post earnings of $1.43 per share. This would mark year-over-year growth of 240.48%. At the same time, our most recent consensus estimate is projecting a revenue of $7.9 billion, reflecting a 35.6% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.72 per share and a revenue of $35.22 billion, representing changes of +416.92% and +40.27%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Micron. Such recent modifications usually signify the changing landscape of 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.7% decrease. As of now, Micron holds a Zacks Rank of #4 (Sell).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 15.54. This valuation marks a discount compared to its industry's average Forward P/E of 16.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.