MU Stock Price | Micron Technology Inc. Stock Quote (U.S.: Nasdaq)

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Micron’s stock swings to a gain after profit, revenue outlook raised

Shares of Micron Technology Inc. spiked up 3.7% in afternoon trading Wednesday, after the memory chip maker raised its profit and revenue outlook for the fiscal third-quarter. The company disclosed that it now expects adjusted earnings per share of 75 cents to 80 cents, above the FactSet consensus of 56 cents, and revenue of $5.2 billion to $5.4 billion, which is above expectations of $4.93 billion. When the company reported fiscal second-quarter results on March 25, the company said it expected adjusted EPS of 55 cents, plus or minus 15 cents, and revenue of $4.6 billion to $5.2 billion. Just before the raised outlook, the stock was trading down 2.6%. It has now lost 6.0% over the past three months, while the PHLX Semiconductor Index has climbed 9.3% and the S&P 500 has advanced 1.1%.






2020-06-29 20:03:49

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