Analysts surveyed by Thomson Reuters anticipate revenue of $3.98 billion for the three months to February, a 91.5% year-over-year increase. Estimates are for net income of 74 cents a share compared to a net loss of 28 cents a share in the year-ago quarter.
In its first quarter ending November, Micron Technology generated $4.04 billion in sales and 77 cents a share in net income.
By late afternoon Friday, shares had slipped 1.6% to $21.88. Trading volume of 30.5 million exceeded its three-month daily average of 28.1 million.
TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."