In its upcoming report, Micron (MU) is predicted by Wall Street analysts to post quarterly earnings of $3.84 per share, reflecting an increase of 114.5% compared to the same period last year. Revenues are forecasted to be $12.57 billion, representing a year-over-year increase of 44.3%.
The consensus EPS estimate for the quarter has undergone an upward revision of 3.6% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Micron metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Revenue by Technology- DRAM' will reach $10.13 billion. The estimate suggests a change of +58.3% year over year.
The collective assessment of analysts points to an estimated 'Revenue by Technology- Other (primarily NOR)' of $82.40 million. The estimate suggests a change of +21.2% year over year.
It is projected by analysts that the 'Revenue by Technology- NAND' will reach $2.34 billion. The estimate suggests a change of +4.2% year over year.
View all Key Company Metrics for Micron here>>>
Shares of Micron have experienced a change of +9.1% in the past month compared to the +0.9% move of the Zacks S&P 500 composite. With a Zacks Rank #1 (Strong Buy), MU is expected to 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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