Wall Street analysts forecast that Micron (MU) will report quarterly earnings of $2.87 per share in its upcoming release, pointing to a year-over-year increase of 143.2%. It is anticipated that revenues will amount to $11.11 billion, exhibiting an increase of 43.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 1.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Micron metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Revenue by Technology- DRAM' reaching $8.69 billion. The estimate points to a change of +63.2% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue by Technology- Other (primarily NOR)' will likely reach $74.88 million. The estimate indicates a year-over-year change of +26.9%.
The consensus estimate for 'Revenue by Technology- NAND' stands at $2.33 billion. The estimate points to a change of -1.6% from the year-ago quarter.
View all Key Company Metrics for Micron here>>>
Over the past month, shares of Micron have returned +36.5% versus the Zacks S&P 500 composite's +2.5% change. Currently, MU carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Micron Technology, Inc. (MU): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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