Why You Need to Pay Attention to Micron (MU) Stock?
One company that should be on your radar is Micron Technology Inc. (MU). The stock of this semiconductor- memory chips manufacturer has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For MU’s full year estimate, we have seen 3 estimates go higher in the past 30 days while there was no downward revision in the same time period. This trend has helped the consensus estimate to trend higher, increasing from $2.15 a share a month ago to its current level at $2.17.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, MU has seen some pretty solid trading lately, as the company has moved higher by 18% in the past month.
If Micron can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put MU on your watch list for the future.
Other top-ranked stocks worth considering in the technology industry include AAC Technologies Holdings Inc. (AACAY), Alliance Fiber Optic Products Inc. (AFOP) and AOL Inc. (AOL). All these carry a Zacks Rank #1(Strong Buy).
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MICRON TECH INC (MU): Free Stock Analysis Report
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