Micron Stock Could Be Worth Buying Before Its Next Earnings Report
Micron‘s (NASDAQ: MU) business has been on an undeniable roll. The company’s last quarterly report crushed expectations, with non-GAAP (generally accepted accounting principles) adjusted earnings per share of $33.42 on revenue of $54.23 billion, blowing past the average Wall Street target for adjusted earnings per share of $31.72 on sales of $51.07 billion.
Even better, the company issued guidance for the current quarter that crushed expectations. The memory chip leader said that it expects to post sales of roughly $61.5 billion in the current quarter and adjusted earnings of $38.15 per share. Meanwhile, the average Wall Street estimate had only targeted sales of roughly $57 billion and per-share earnings of $35.40.
Micron is expected to release its next earnings report sometime in December. Here’s why the stock could be worth buying ahead of the company’s next quarterly release.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.