Earnings To Watch: Micron Know-how (MU) Experiences This fall Outcomes Tomorrow
Reminiscence chips maker Micron (NYSE:MU)
might be reporting outcomes tomorrow after market hours. Here is what to anticipate.
Final quarter Micron Know-how (NASDAQ:) reported revenues of $3.75 billion, down 56.6% 12 months on 12 months, beating analyst income expectations by 2.05%. It was a blended quarter for the corporate, with income and EPS outperforming Wall Avenue’s expectations. However, profitability metrics deteriorated. The corporate’s CEO did say that “the reminiscence trade has handed its trough in income, and we anticipate margins to enhance as trade supply-demand stability is steadily restored.”
Is Micron Know-how purchase or promote heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts predict Micron Know-how’s income to say no 40.9% 12 months on 12 months to $3.93 billion, an additional deceleration on the 19.7% year-over-year lower in income the corporate had recorded in the identical quarter final 12 months. Adjusted loss is predicted to come back in at -$1.18 per share.
The analysts masking the corporate have been rising more and more bullish concerning the enterprise heading into the earnings, with income estimates seeing three upwards revisions during the last thirty days. The corporate missed Wall St’s income estimates 4 instances during the last two years.
With Micron Know-how being the primary amongst its friends to report earnings this season, we do not have wherever else to have a look at to get a touch at how this quarter will unravel for semiconductors shares, however the entire sector has been hit arduous on fears of upper rates of interest, with shares down on common 5.13% during the last month. Micron Know-how is up 4.18% throughout the identical time, and is heading into the earnings with analysts’ common worth goal of $79.85, in comparison with share worth of $68.04.
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The creator has no place in any of the shares talked about.