Micron Technology (MU) Stock: Latest News and Analysis
Key Points
- Micron MU is expected to deliver a year-over-year increase in earnings on higher revenues.
- The 25 analysts with 12-month price forecasts for Micron Technology stock have an average target of 1506 with a low estimate of 80.
- According to the research reports of 26 Wall Street equities research analysts, the average twelve-month stock price forecast for Micron is 1506.
Analysis
Micron Technology (MU) is scheduled to report its fiscal 2023 first-quarter results on Thursday, March 9, 2023, after the market closes. The company is expected to deliver a year-over-year increase in earnings on higher revenues. The consensus EPS estimate is $1.71, up from $1.45 in the prior-year quarter. The consensus revenue estimate is $8.12 billion, up from $7.67 billion in the prior-year quarter.
Micron has been a beneficiary of the increasing demand for memory and storage products in recent years. The company is a leading provider of memory and storage products, such as DRAM, NAND flash, and solid-state drives (SSDs). These products are used in a wide range of electronic devices, including smartphones, tablets, laptops, and servers.
The demand for memory and storage products is expected to continue to grow in the coming years. This is due to the increasing popularity of cloud computing, artificial intelligence (AI), and other data-intensive applications. Micron is well-positioned to benefit from this growth, as it is a leading provider of these products.
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