Earnings Estimates Moving Higher for Micron (MU): Time to Buy?

Core Viewpoint - Micron (MU) is positioned as a strong investment opportunity due to its improving earnings outlook and analysts' increasing earnings estimates [1][2]. Estimate Revisions - The trend of rising earnings estimate revisions reflects growing analyst optimism regarding Micron's earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, Micron is projected to earn $2.77 per share, representing a +134.8% change from the previous year, with a 7.12% increase in consensus estimates over the last 30 days [6]. - For the full year, the earnings estimate stands at $8.04 per share, indicating a +518.5% change from the year-ago figure, with seven estimates moving higher recently [7]. Zacks Rank - Micron has achieved a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, which historically correlate with significant stock performance [8]. - Stocks with a Zacks Rank 1 (Strong Buy) and 2 (Buy) have shown to significantly outperform the S&P 500 [8]. Stock Performance - Micron's stock has increased by 10.4% over the past four weeks, driven by strong estimate revisions, suggesting potential for further upside [9].