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Micron (MU) Stock Declines While Market Improves: Some Information for Investors

Micron (MU) closed at $127.50 in the latest trading session, marking a -1.16% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.25%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.23%.

The the stock of chipmaker has risen by 18.22% in the past month, leading the Computer and Technology sector's gain of 11.73% and the S&P 500's gain of 7.08%.

The upcoming earnings release of Micron will be of great interest to investors. The company is forecasted to report an EPS of $0.46, showcasing a 132.17% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $6.62 billion, showing a 76.36% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.80 per share and a revenue of $24.53 billion, signifying shifts of +117.98% and +57.82%, respectively, from the last year.

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Investors should also pay attention to any latest changes in analyst estimates for Micron. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Micron presently features a Zacks Rank of #2 (Buy).

In the context of valuation, Micron is at present trading with a Forward P/E ratio of 160.39. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 160.39.

The Semiconductor Memory industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 1, placing it within the top 1% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow MU in the coming trading sessions, be sure to utilize Zacks.com.

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

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