Prediction: Micron Will Do a Stock-Split Before the End of the Year. And It Could Come on Wednesday
At a share price above $1,000, a stock split seems likely for the memory chip juggernaut.
Overview
Micron (NASDAQ:MU) is set to report earnings after hours on Wednesday, and all of Wall Street will be watching.
As one of the three major memory chipmakers, along with Samsung and SK Hynix, Micron has been one of the best-performing stocks over the last year, benefiting from a memory shortage that has led to prices skyrocketing.
Details
In its June earnings report, revenue jumped 346% to $41.5 billion, and it reported a net profit margin of 80.4%, a level virtually unheard of for any company, underscoring how high memory prices have gotten. Net income in the quarter jumped from $1.89 billion to $28.2 billion.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.