Micron Earnings Are Set for a 10x Jump: The Stock Is Still the Cheapest in Tech
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A stock is about to report a 10-fold jump in its earnings per share. The same stock is the cheapest among large U.S. technology companies. Both things are true for Micron Technology Inc. (NASDAQ: MU ) heading into its fiscal fourth-quarter earnings. Micron reports results next Wednesday, Sept. 30, after the market closes. Wall Street expects adjusted earnings of $31.43 per share. A year ago, Micron earned $3.03 per share in the same quarter. That is an increase of about 940%. Over the next twelve months, analysts expect Micron to earn $144.94 per share. At a share price of about $1,060, investors are paying roughly 7.3 times those expected profits. That is the lowest forward price-to-earnings ratio among the companies in the Technology Select Sector SPDR Fund (NYSE: XLK ). The contradiction raises the real question heading into earnings: why is Wall Street putting such a low price on some of the fastest profit growth in the market? Micron's Earnings Have Grown Every Quarter This Year Micron's profits have climbed quarter after quarter in fiscal 2026 In June, Micron reported fiscal third-quarter revenue of $41.46 billion, up from $9.30 billion a year earlier. Adjusted earnings of $25.11 per share beat the consensus estimate of $20.71. The company then guided fourth-quarter revenue to $50 billion, plus or minus $1 billion. In addition, it guided adjusted earnings to $31.00 per...
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