MU - Where Will Micron Technology's Stock Be in 1 Year?
2023-04-03 08:46:00 ET
Micron Technology (NASDAQ: MU) posted its latest earnings report on March 28. For the second quarter of fiscal 2023, which ended on March 2, the memory chipmaker's revenue fell 53% year over year to $3.69 billion and narrowly missed analysts' expectations by $20 million. It posted an adjusted net loss of $2.08 billion, compared to a net profit of $2.44 billion a year ago, as its adjusted net loss of $1.91 per share broadly missed the consensus forecast by $1.03.
Those disappointing numbers suggest Micron's cyclical decline hasn't ended yet. But its stock has already retreated nearly 40% from its all-time high of $96.60 on Jan. 14, 2022. Could it be poised to rebound over the next 12 months?
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Where Will Micron Technology's Stock Be in 1 Year?