Micron (MU) closed the newest buying and selling day at $101.17, transferring +0.3% from the earlier buying and selling session. The inventory’s efficiency was forward of the S&P 500’s every day achieve of 0.25%. On the identical time, the Dow misplaced 0.28%, and the tech-heavy Nasdaq gained 0.81%.
Coming into as we speak, shares of the chipmaker had misplaced 11.06% prior to now month. In that very same time, the Laptop and Expertise sector gained 5.31%, whereas the S&P 500 gained 5.22%.
Market members will probably be intently following the monetary outcomes of Micron in its upcoming launch. The corporate plans to announce its earnings on December 18, 2024. The corporate is predicted to report EPS of $1.75, up 284.21% from the prior-year quarter. Concurrently, our newest consensus estimate expects the income to be $8.71 billion, exhibiting an 84.33% escalation in comparison with the year-ago quarter.
For your entire fiscal yr, the Zacks Consensus Estimates are projecting earnings of $8.66 per share and a income of $38.12 billion, representing adjustments of +566.15% and +78.35%, respectively, from the prior yr.
Buyers must also be aware of any latest changes to analyst estimates for Micron. These revisions assist to indicate the ever-changing nature of near-term enterprise developments. Consequently, upbeat adjustments in estimates point out analysts’ favorable outlook on the corporate’s enterprise well being and profitability.
Our analysis reveals that these estimate alterations are instantly linked with the inventory value efficiency within the close to future. To learn from this, we now have developed the Zacks Rank, a proprietary mannequin which takes these estimate adjustments under consideration and supplies an actionable score system.
The Zacks Rank system, which varies between #1 (Sturdy Purchase) and #5 (Sturdy Promote), carries a powerful monitor document of exceeding expectations, confirmed by exterior audits, with shares at #1 delivering a median annual return of +25% since 1988. Over the previous month, the Zacks Consensus EPS estimate remained stagnant. Micron is at present a Zacks Rank #3 (Maintain).
Within the context of valuation, Micron is at current buying and selling with a Ahead P/E ratio of 11.64. This signifies a reduction compared to the common Ahead P/E of 14.92 for its trade.
The Laptop – Built-in Methods trade is a part of the Laptop and Expertise sector. At current, this trade carries a Zacks Trade Rank of 135, inserting it throughout the backside 47% of over 250 industries.
The Zacks Trade Rank assesses the vigor of our particular trade teams by computing the common Zacks Rank of the person shares integrated within the teams. Our analysis reveals that the highest 50% rated industries outperform the underside half by an element of two to 1.
Be sure you use Zacks.com to observe all these stock-influencing metrics, and extra, all through the forthcoming buying and selling periods.
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Micron Technology, Inc. (MU) : Free Stock Analysis Report
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