Micron Stock Dips Despite Superb Q4 Earnings Report

Core Insights - Micron Technology Inc reported fiscal fourth-quarter earnings of $3.03 per share on revenue of $11.32 billion, exceeding estimates despite a 1.9% decline in share price to $163.28 [1] - The stock is experiencing its third daily loss this month, yet remains close to its record high of $170.45 from September 19, with a year-to-date increase of 93.5% [2] - Analyst sentiment is largely positive, with 14 price-target increases, including a notable rise from BofA Global Research to $180 from $140, and only six out of 36 firms maintaining a "hold" or worse rating [3] Trading Activity - Traders are anticipating a return to normalcy, as indicated by a high put/call ratio of 86th percentile over the past year [4] - Call options are currently dominating trading volume, with 185,000 calls and 156,000 puts traded, resulting in overall volume that is three times the usual amount [5] - The most actively traded options include the weekly 9/26 160-strike put and the 170-strike call, with new positions being opened in both contracts [5]