From The Motley Fool · Keith Noonan · · 50s
Micron Stock Could Be Worth Buying Before Earnings
Micron stock may rise ahead of December earnings report as strong guidance and cash returns loom.
In brief
Micron stock may rise ahead of December earnings report as strong guidance and cash returns loom. Micron stock could be worth buying before its December earnings report due to strong guidance and upcoming cash returns. Originally reported by The Motley Fool.
Micron's recent earnings beat
Micron's last quarterly report crushed expectations with non-GAAP adjusted earnings per share of $33.42 on $54.23 billion revenue.
Stronger guidance than Wall Street
Micron expects $61.5 billion sales and $38.15 per share earnings for the current quarter, beating Wall Street's $57 billion sales and $35.40 per share target.
Stock price down 25.5% since last report
Micron stock has fallen 25.5% since its last quarterly report despite strong earnings and forward guidance.
Upcoming cash returns policy shift
Micron will return $35.16 billion to shareholders via stock buybacks and potentially a dividend increase by December.
The essence
Micron stock could be worth buying before its December earnings report due to strong guidance and upcoming cash returns.
