Where Will Micron Technology Be in 1 Year?
Micron Technology (NASDAQ: MU) has a long history as a chip stock. With that designation comes the inevitable volatility inherent in this cyclical industry. The company has often moved higher during a time of rising memory prices, only to collapse when memory demand dries up.
For this reason, predicting where Micron stock goes over the next year probably hinges on the expected direction of memory prices. Let's take a closer look at where analysts believe the memory market is headed over the next year.
In the most recent earnings call, CEO Sanjay Mehrotra sounded an optimistic tone on DRAM memory for 2021, a category that traditionally made up a majority of Micron's revenue. Still, that didn't stop the company from forecasting $0.47 per share in non-GAAP earnings for the upcoming Q1. This is down from $0.48 per share from the year-ago quarter.
Source Fool.com
