Why Micron Technology Rallied 30.5% in June
Shares of memory giant Micron Technology (NASDAQ: MU) rallied 30.5% in June, according to data from S&P Global Market Intelligence.
Micron reported earnings late in the month that handily outpaced analyst expectations. Even though the stock fell in the aftermath, there had already been a huge run-up into the earnings report, reflecting a pre-earnings surge in memory pricing.
In its fiscal third quarter, Micron saw revenue grow 36.6% year over year to $9.3 billion, with adjusted non-GAAP (generally accepted accounting principles) earnings per share more than tripling to $1.91, each well ahead of analyst expectations. In addition, Micron forecast an above-consensus $10.7 billion in revenue for the next quarter, along with $2.50 in adjusted EPS, amounting to quarter-over-quarter growth rates of 15% and 31%, respectively.
Source Fool.com
Micron Technology Inc. Aktie
Micron Technology Inc. ist ein klarer Community-Favorit mit mehr Buy- als Sell-Einschätzungen.
Das Community-Kursziel von 425 € für Micron Technology Inc. deutet auf eine deutliche Steigerung um mehr als 20% gegenüber dem aktuellen Kurs von 352.7 € hin.
