Company Of The Day: Micron
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?
- Up 30% This Year, Will AI Tailwinds Drive Micron Stock Higher?
- Up 12% This Year On AI Tailwinds, Will Micron Stock See Further Gains Following Q2 Results?
- Digital Infrastructure Stocks Including Micron Had A Solid Year. What Lies Ahead?
- Why Digital Infrastructure Stocks Such As Micron Are Outperforming
- Will Surging Demand For High-Bandwidth Memory Help Micron Stock?
- How Will The Chinese Chip Ban Impact Micron?
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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