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Earnings Growth & Price Strength Make Micron (MU) a Stock to Watch

Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.

Let's now take a look at one standout stock that could be a perfect fit for your portfolio.

Why You Should Pay Attention to Micron (MU)

Idaho-based Micron Technology has established itself as one of the leading worldwide providers of semiconductor memory solutions.

MU was added to the Zacks Focus List on December 27, 2016 at $23.26 per share. Since then, shares have increased 456.71% to $129.49.

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For fiscal 2024, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.40 to $0.85. MU boasts an average earnings surprise of 69.6%.

Earnings for Micron are forecasted to see growth of 119.1% for the current fiscal year as well.

It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like MU, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.

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Micron Technology, Inc. (MU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research