Why Micron Rallied 21% This Week
Shares of Micron Technology (NASDAQ: MU) rallied 20.9% on the week through Thursday trading, according to data from S&P Global Market Intelligence.
Micron reported earnings on Wednesday, blowing away analyst estimates while also giving strong guidance. The move comes after the stock had been down nearly 50% from its June highs amid widespread concerns over memory demand. Therefore, the strong beat and guide caused a near-15% surge on Thursday alone.
In the quarter, Micron saw revenue surge to $7.8 billion, up 93% over the prior-year quarter, with adjusted (non-GAAP) earnings per share of $1.18, up from an adjusted loss per share of ($1.07) in the year-ago quarter.
Source Fool.com
Micron Technology Inc. Aktie
96,27 €
-1,98 %
Micron Technology Inc. sticht etwas positiv hervor mit 106 Buy- und 5 Sell-Einschätzungen.
Ein prognostiziertes Kursziel von 125 € für Micron Technology Inc. zeigt ein Potenzial von über 20% im Vergleich zum aktuellen Kurs von 96.27 €.
