Micron's Stock Defies Logic Despite Poor Earnings Report and Sales Drop.
TL;DR Summary
Despite reporting worse-than-expected Q2 financial results, Micron Technology's shares are trading higher as several analysts raised their price targets on the stock following the print. Micron's Q2 revenue of $3.69 billion missed estimates of $3.72 billion, and Q2 EPS was a loss of $1.91, missing estimates for a loss of 81 cents. However, Micron's CEO expects gradual improvements to the industry's supply-demand balance, and the company anticipates Q3 revenue of $3.7 billion, plus or minus $200 million.
- What's Going On With Micron Shares Today? - Micron Technology (NASDAQ:MU) Benzinga
- Micron Sales Were Cut in Half. Why the Stock Is Jumping. Barron's
- Micron Loses $2.312 Billion as Demand for DRAM and 3D NAND Nosedives Tom's Hardware
- Micron just released an objectively horrible earnings report. Why is the stock not falling? MarketWatch
- Micron reports loss of $2.31 billion in fiscal second quarter syracuse.com
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