Micron Likely To Report Wider Q1 Loss; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Micron Technology, Inc. (NASDAQ:MU) is expected to report a wider loss of 97 cents per share for Q1, compared to a 4 cents loss per share in the previous year. Revenue is projected at $4.64 billion, but Micron has raised its forecast to $4.7 billion due to better supply-demand balance and pricing. Shares rose 0.8% to $82.17. Analysts have updated their ratings and price targets, with most maintaining positive outlooks and raising their price targets.
December 20, 2023 | 5:01 pm
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POSITIVE IMPACT
Micron Technology is anticipated to report a wider Q1 loss but has raised revenue forecasts. Analysts have mostly positive ratings and have increased price targets, indicating confidence in the company's performance.
The positive revision of revenue forecasts by Micron and the subsequent analyst upgrades with higher price targets suggest a bullish sentiment that could lead to a short-term positive impact on MU's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100