Micron Could Be Poised for a Major Breakout Late in 2026
Micron's latest quarterly report was a winner, and there's another big catalyst on the horizon.
Overview
After the market closed on Sept. 30, Micron (NASDAQ: MU) published results for the fourth quarter of its last fiscal year, which ended on Sept. 3. Results for the period crushed expectations, with non-GAAP (adjusted) earnings per share of $33.42 on sales of $54.23 billion topping the average analyst estimate's call for per-share earnings of $31.61 on revenue of $51.07 billion.
Performance expectations were already high heading into the report, but the memory chip leader posted quarterly results and forward guidance that still blew past expectations. For the current quarter, the company's midpoint targets call for revenue of $61.5 billion and adjusted earnings per share of $38.15 -- topping the average analyst estimates for revenue of $57.02 billion and adjusted earnings of $35.40 per share. The strong results have already spurred significant gains for Micron's share price, and there are good reasons to think that the stock could end the year significantly higher.
Image source: Micron.
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Originally published at www.fool.com.