The latest trading session saw Micron (MU) ending at $91.24, denoting a -1.36% adjustment from its last day's close. The stock's change was less than the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.28%.

The chipmaker's shares have seen an increase of 5.92% over the last month, surpassing the Computer and Technology sector's gain of 0.79% and the S&P 500's gain of 2.87%.

Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.43, indicating a 240.48% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.9 billion, up 35.6% from the prior-year quarter.

MU's full-year Zacks Consensus Estimates are calling for earnings of $6.90 per share and revenue of $35.31 billion. These results would represent year-over-year changes of +430.77% and +40.63%, respectively.

Any recent changes to analyst estimates for Micron should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 shifted 0.59% upward. Micron is holding a Zacks Rank of #3 (Hold) right now.

From a valuation perspective, Micron is currently exchanging hands at a Forward P/E ratio of 13.41. This valuation marks a discount compared to its industry's average Forward P/E of 13.53.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 165, positioning it in the bottom 35% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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

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