Where Will Micron Technology Be in 5 Years?
Micron Technology (NASDAQ: MU) hasn't given its shareholders much reason to smile this year. Between the broader sell-off in technology stocks and weak demand for memory chips specifically, shares of the chipmaker have fallen more than 40%.
There could be worse news ahead. Micron's near-term guidance points toward big declines in its revenue and earnings. Prices of memory chips are dropping due to an oversupply caused by the sharp sales declines for smartphones and personal computers in 2022.
Analysts expect Micron's top and bottom lines to shrink 19% and 52%, respectively, in its fiscal 2023 (which has just begun) to $25 billion and $3.92 per share. The outlook for the next five years is also dim: Analysts estimate that Micron's bottom line will remain stagnant. But could the memory specialist surprise analysts and outperform those expectations?
Source Fool.com
