In the latest market close, Micron (MU) reached $94.51, with a +0.97% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.36%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq gained 0.51%.

Shares of the chipmaker have depreciated by 5.84% over the course of the past month, underperforming the Computer and Technology sector's of 0% and the S&P 500's gain of 2.11%.

The upcoming earnings release of Micron will be of great interest to investors. In that report, analysts expect Micron to post earnings of $1.43 per share. This would mark year-over-year growth of 240.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.9 billion, up 35.6% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.90 per share and a revenue of $35.31 billion, indicating changes of +430.77% and +40.63%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for Micron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% higher. Right now, Micron possesses a Zacks Rank of #3 (Hold).

Looking at valuation, Micron is presently trading at a Forward P/E ratio of 13.57. This signifies a discount in comparison to the average Forward P/E of 14.3 for its industry.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 42% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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

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