Micron Technology Drops 1.7% as Q1 EPS Seen Soaring 445%
Micron declined 1.68% in a session that saw the S&P 500 fall 1.04% while the Dow dropped 1.66% and the Nasdaq 1.13%, yet the stock has gained 7.14% over the past month versus the sector’s 0.34% and the S&P 500’s 1.75%. Analysts forecast Q1 EPS of $8.50 (+444.9% YoY) on $18.87 billion revenue (+134.3% YoY), assign a strong buy rank, and value shares at 12.7× forward earnings versus the industry’s 22.9×.
1. Session Performance
Micron closed the latest session down 1.68%, lagging the S&P 500’s 1.04% decline, the Dow’s 1.66% slide and the Nasdaq’s 1.13% loss.
2. Recent Rally Outperformance
Over the past month, Micron stock has climbed 7.14%, outpacing the Computer & Technology sector’s 0.34% gain and the S&P 500’s 1.75% advance.
3. Earnings Forecasts
Analysts forecast first-quarter EPS of $8.50, up 444.9% year-over-year, on revenue of $18.87 billion (+134.3% YoY), while full-year EPS and revenue estimates stand at $33.79 and $74.62 billion, up 307.6% and 99.7%, respectively.
4. Valuation and Rating
Shares trade at a forward P/E of 12.67, below the 22.85 industry average, and carry a #1 strong buy rank, with consensus EPS estimates rising 2.88% over the past month.