Surging Earnings Estimates Signal Upside for Micron (MU) Stock

Core Viewpoint - Investors are encouraged to consider Micron (MU) due to solid improvements in earnings estimates and positive short-term price momentum [1][9] Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding Micron's earnings prospects, which is expected to positively impact its stock price [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown that stocks with a Zacks Rank 1 have generated an average annual return of +25% since 2008 [3] - Strong agreement among analysts has led to significant upward revisions in consensus earnings estimates for both the current quarter and the full year [3] Current-Quarter Estimates - Micron is projected to earn $3.75 per share for the current quarter, reflecting a year-over-year increase of +109.5% [5] - Over the past 30 days, the Zacks Consensus Estimate for Micron has risen by 26.69%, with seven estimates moving higher and no negative revisions [5] Current-Year Estimates - For the full year, Micron is expected to earn $16.58 per share, representing a year-over-year change of +100.0% [6] - The consensus estimate has increased by 27.14% over the past month, with nine estimates moving higher and no negative revisions [6][7] Zacks Rank - Micron currently holds a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, which is a reliable indicator for investors [8] - Research indicates that stocks with Zacks Rank 1 and 2 significantly outperform the S&P 500 [8] Bottom Line - Investors have shown strong interest in Micron, evidenced by a 47.9% stock gain over the past four weeks, driven by positive earnings growth prospects [9]