Yahoo Finance Micron (MU) Stock Moves -1.17%: What You Should Know
Micron (MU) closed at $54.04 in the latest trading session, marking a -1.17% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.79%. At the same time, the Dow lost 1.4%, and the tech-heavy Nasdaq lost 0.41%.
Coming into today, shares of the chipmaker had lost 2.64% in the past month. In that same time, the Computer and Technology sector gained 12.11%, while the S&P 500 gained 8.6%.
Micron will be looking to display strength as it nears its next earnings release, which is expected to be December 21, 2022. In that report, analysts expect Micron to post earnings of $0.01 per share. This would mark a year-over-year decline of 99.54%. Our most recent consensus estimate is calling for quarterly revenue of $4.12 billion, down 46.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.30 per share and revenue of $17.56 billion, which would represent changes of -103.59% and -42.92%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 235.5% lower. Micron is currently sporting a Zacks Rank of #3 (Hold).
The Semiconductor Memory industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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
