Company Of The Day: Micron

-34.25%
Downside
153
Market
101
Trefis
MU: Micron Technology logo
MU
Micron Technology

What?

Micron (NASDAQ:MU) reported a stronger than expected set of Q2 FY’22 results (quarter ended March 3). While revenue rose by 25% year-over-year to $7.8 billion, adjusted earnings came in at $2.14 per share, up from $0.98 last year.

Why?

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Sales were driven by strong demand for NAND and DRAM from data centers and enterprise PCs.

So What?

While MU stock initially rose following the results, it gave up the gains, falling by almost 3% in Wednesday’s trading due to the broader market sell-off.

See Our Complete Analysis For Micron

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Returns Mar 2022
MTD [1]
2022
YTD [1]
2017-22
Total [2]
 MU Return -11% -15% 261%
 S&P 500 Return 5% -3% 106%
 Trefis MS Portfolio Return 3% -7% 266%

[1] Month-to-date and year-to-date as of 3/31/2022
[2] Cumulative total returns since the end of 2016

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