Wall Street analysts forecast that Micron (MU) will report quarterly earnings of $1.75 per share in its upcoming release, pointing to a year-over-year increase of 284.2%. It is anticipated that revenues will amount to $8.71 billion, exhibiting an increase of 84.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
With that in mind, let's delve into the average projections of some Micron metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenue by Technology- DRAM' to come in at $5.92 billion. The estimate suggests a change of +72.9% year over year.
Based on the collective assessment of analysts, 'Revenue by Technology- Other (primarily NOR)' should arrive at $83.50 million. The estimate points to a change of +21% from the year-ago quarter.
The consensus among analysts is that 'Revenue by Technology- NAND' will reach $2.60 billion. The estimate indicates a change of +111.5% from the prior-year quarter.
View all Key Company Metrics for Micron here>>>
Shares of Micron have experienced a change of -1% in the past month compared to the +1.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), MU is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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