Micron Stock Is Sliding: What's Going On?
Portfolio Pulse from Adam Eckert
Micron Technology Inc's shares are trading lower following the company's Q4 financial results. Despite beating revenue and EPS estimates, the company's weak earnings outlook for the fiscal first quarter seems to be negatively impacting the stock. Analysts from Citigroup, Baird, and Rosenblatt have reiterated their ratings, with price targets ranging from $65 to $100.
September 28, 2023 | 1:28 pm
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NEGATIVE IMPACT
Micron's stock is trading lower due to a weak earnings outlook for Q1, despite beating Q4 estimates. Analysts maintain their ratings, with price targets between $65 and $100.
Micron's stock is trading lower due to the company's weak earnings outlook for the fiscal first quarter, despite beating Q4 estimates. This indicates that investors are more concerned about the company's future performance than its past results. The maintained ratings and price targets from analysts suggest that they still see potential in the stock, but the immediate reaction to the earnings report is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100