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Micron Stock Rises on Upbeat Q4 Guidance, Semiconductor Sector in Focus
Micron Stock Rises on Upbeat Q4 Guidance, Semiconductor Sector in Focus
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BTCCSquare news:
Micron Technology (MU) shares gained 2.5% after raising fiscal Q4 revenue guidance to $11.2-$11.3 billion, exceeding prior estimates. The semiconductor firm now anticipates gross margins of 43.5% and boosted EPS projections by $0.35 to $2.57-$2.71.
The upward revision, attributed to strong DRAM pricing and operational execution, implies a 600% year-over-year earnings growth potential. At $122 per share, Micron trades at a modest P/E of 15 based on projected $8.17 EPS - an attractive multiple for such growth.
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