Company Of The Day: Micron

+35.94%
Upside
50.01
Market
67.98
Trefis
MU: Micron Technology logo
MU
Micron Technology

What?

Micron (NASDAQ:MU)  posted a stronger than expected set of Q1 FY’22 results, with sales growing 33% year-over-year to $7.69 billion and EPS rising 175% to about $2.16.

Why?

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Growth was driven by the data center market, which is witnessing strong demand for cloud computing and a resurgence in enterprise IT spending.

So What?

MU stock gained about 10% in Tuesday’s trading, driven by the strong results and the company’s positive commentary indicating that supply chain shortages could ease through 2022, driving demand for its memory and storage products.

See Our Complete Analysis For Micron

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Returns Dec 2021
MTD [1]
2021
YTD [1]
2017-21
Total [2]
 MU Return 9% 21% 314%
 S&P 500 Return -1% 24% 107%
 Trefis MS Portfolio Return 0% 45% 289%

[1] Month-to-date and year-to-date as of 12/21/2021
[2] Cumulative total returns since 2017

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