Why Micron Stock Is Soaring Today
Shares of computer technology outfit Micron Technology (NASDAQ: MU) are up more than 15% midday Thursday following Wednesday evening's release of its fiscal fourth-quarter results. The stock's biggest single-day gain in over a decade, however, mostly stems from its bullish guidance for the quarter currently underway.
Micron Technology turned $7.75 billion worth of revenue into per-share operating earnings of $1.18 during the three-month stretch ending in late August. Both are well up from year-ago comparisons of a top line of $4.01 billion and a per-share loss of $1.07, although keep in mind the environment a year earlier was (very) cyclically weak. Perhaps more important, both of last quarter's numbers topped analyst expectations of $7.65 billion in sales and profits of $1.11 per share.
Continued demand for its high-bandwidth memory chips used in artificial intelligence (AI) computing platforms gets most of the credit for the strong showing.
Source Fool.com
Micron Technology Inc. Stock
Our community is currently high on Micron Technology Inc. with 106 Buy predictions and 5 Sell predictions.
As a result the target price of 125 € shows a positive potential of 30.25% compared to the current price of 95.97 € for Micron Technology Inc..
