Micron Stock Rises on Strong Growth Forecasts Ahead of Earnings
• Micron (MU) stock closed 1% higher on latest trading day, outperforming broader market • Upcoming earnings report due on March 20, 2024 expected to show strong 85% EPS growth year-over-year • Revenue also forecasted to jump 44% from last year to $5.32 billion • For full fiscal year, estimates call for 90% EPS growth and 43% revenue growth • Micron holds Zacks Rank #3 (Hold) based on recent estimate revisions, with semiconductor memory industry in top 39% of Zacks sectors