Why Micron (MU) Dipped More Than Broader Market Today

Company Performance - Micron's stock closed at $116.47, reflecting a -1.03% change from the previous day's closing price, underperforming the S&P 500's daily loss of 0.43% [1] - Over the past month, Micron's shares have increased by 5.77%, outperforming the Computer and Technology sector's gain of 2.56% and the S&P 500's gain of 2.65% [1] Upcoming Earnings - Micron is expected to report an EPS of $2.77, representing a 134.75% increase compared to the same quarter last year [2] - The consensus estimate for revenue is projected at $11.07 billion, indicating a 42.82% increase year-over-year [2] Full Year Projections - For the full year, earnings are projected at $8.04 per share and revenue at $36.91 billion, showing increases of +518.46% and +46.98% respectively from the previous year [3] Analyst Estimates and Market Trends - Recent revisions to analyst estimates for Micron are seen as positive indicators of the business outlook, reflecting near-term business trends [3][4] - The Zacks Rank system, which incorporates estimate changes, currently ranks Micron as 1 (Strong Buy), suggesting strong potential for outperformance [5] Valuation Metrics - Micron has a Forward P/E ratio of 14.64, which is lower than the industry average of 19.57, indicating that Micron may be trading at a discount [6] - The Computer - Integrated Systems industry, part of the Computer and Technology sector, ranks in the top 13% of all industries according to the Zacks Industry Rank [6]