MU - Here's Why Micron's Profits Could Be Ready to Take Off
2023-10-03 07:03:00 ET
Shares of memory-maker Micron Technology (NASDAQ: MU) sold off after last Wednesday's earnings report, although much of the initial sell-off was regained on Friday.
Investors may have been somewhat disappointed at the pace of the memory industry recovery as projected by Micron's forward guidance for the current quarter and fiscal year. However, a closer reading of some details may have then led some to rethink the sell-off the following day, when several analysts gave more bullish takes.
Micron usually guides conservatively, and one particular comment in the earnings release suggests upside surprises in memory pricing could be in store next year.
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Here's Why Micron's Profits Could Be Ready to Take Off