Short Term Surging Stock Alert: Micron Technology (NASDAQ: MU)
Semiconductor stocks are normally rising despite the pandemic’s impact on the overall economy. However, Micron (NASDAQ: MU) is growing with high volatility while beating revenue estimates throughout four quarters. At the same time, its competitors like AMD, Intel, and Qualcomm are facing the same successful period but have uptrends in their stocks.
As Micron has been a dividend-paying stock for decades one may surely say MU is an investment that can pay for long unless the tough competitors take its market share away. Last quarter’s EPS beat the estimates by $0.05. And upcoming EPS may beat too and before the release of the reports, MU might significantly soar at least 25%. Gradually growing earnings are slowly backing up the equity to ensure future funding source is not empty.
From mid-March to June MU grew by adding 17 points like AMD and Intel. Nevertheless, the stock fell sharply in August. Since then it is started struggling due to less demand for the shares while the enthusiasts are chanting to hold the stock until the financial results for Q3 2020.