Micron's Stock Defies Logic Despite Poor Earnings Report and Sales Drop.
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.