Micron Know-how Inc MU shares are buying and selling decrease Thursday on the heels of the corporate’s fourth-quarter monetary outcomes. Here is a rundown of the report and a have a look at what seems to be driving the motion.
- This fall Income: $4.01 billion beat estimates of $3.91 billion
- This fall EPS: Lack of $1.07 beat estimates for lack of $1.18
“Throughout fiscal 2023, amid a difficult setting for the reminiscence and storage trade, Micron sustained know-how management, launched a major variety of modern merchandise, and took decisive actions on provide and value,” stated Sanjay Mehrotra, president and CEO of Micron.
“Our 2023 efficiency positions us properly as a market restoration takes form in 2024, pushed by rising demand and disciplined provide. We look ahead to document trade TAM income in 2025 as AI proliferates from the information heart to the sting.”
Outlook: Micron stated it expects fiscal first-quarter income to be between $4.2 billion and $4.6 billion versus estimates of $3.97 billion. The corporate anticipates an earnings lack of $1 to $1.14 to per share versus estimates for a lack of 90 cents per share. The weak earnings outlook seems to be weighing on the inventory.
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- Citigroup analyst Christopher Danely reiterated Micron with a Purchase and maintained a worth goal of $85.
- Baird analyst Tristan Gerra maintained Micron with a Impartial and raised the value goal from $60 to $65.
- Rosenblatt analyst Hans Mosesmann reiterated Micron with a Purchase and maintained a worth goal of $100.
MU Worth Motion: Micron shares had been down 2.57% at $66.45 on the time of publication, in accordance with Benzinga Professional.
Picture: courtesy of Micron.
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