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Top 6 Earnings Releases to Watch Next Week

MU Chart MU data by YCharts

Micron Technology (MU - Get Report)

Background: Micron has established itself as one of the leading worldwide providers of semiconductor memory solutions. The company was founded in 1978 and is headquartered in Boise, Idaho. Micron trades an average of 28 million shares per day with a market cap of $6.7 billion.

52-Week Range: $3.97 - $9.16

Micron is forecast to report really sorry fourth-quarter earnings on Thursday. The consensus estimate is a loss of 21 cents a share, falling another 8 cents from the loss of 13 cents during the same period last year.

The last date Micron released earnings was June 20, and the closing price was $6.12. Based on a recent price of $6.45, shares are up 5.4%.

The current proportion sold short based on the float is 6.8%. The price chart looks more attractive than the fundamentals. Micron is technically bearish as a result of the price trading under the 200-day moving average. But the price is also moving up towards and testing a breakout every couple of weeks.

I like Micron, so I don't enjoy writing that I am not expecting a surprise beat for the upcoming report. This quarter makes it four quarters in a row of losses. With China's slowdown, don't expect the losses to end soon.

I use Zacks.com, WSJ.com, Tradestation and Reuters for my data. PE is generally adjusted PE based on an average number of shares.

At the time of publication the author had no position in any stock mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

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SYM TRADE IT LAST %CHG
WAG $81.65 2.05%
DFS $59.54 0.00%
LEN $48.53 0.00%
MU $27.33 0.00%
RHT $78.81 0.00%

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