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Micron Needs a Rosy Outlook to Justify Its Soaring Stock Price
['Tue', 'Sept', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Micron is expected to report net earnings per share of $2.65 on revenue of $11.2 billion in its fiscal fourth quarter.
Micron Technology Inc.’s earnings after the bell Tuesday will shed light on whether the chipmaker’s high-flying stock has gotten ahead of itself after a 41% gain in September.
That Western Digital and Seagate are rallying the way they are gives further confirmation of the trend.”Shares rose 1.5% on Tuesday.
For the full fiscal year, Micron’s net EPS is projected to rise to $7.42 on revenue of $37 billion, compared with 70 cents and $25 billion in fiscal 2024.
Last year’s earnings report was a watershed moment for Micron, however, because its outlook was so encouraging that the company’s stock had its best session in 13 years the day after the news hit.
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