MU Stock Summary and Trading Ideas (Micron Technology | NASDAQ:MU)

Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.

Micron Technology trades on the NASDAQ stock market under the symbol MU.

As of October 31, 2024, MU stock price declined to $99.65 with 17,149,161 million shares trading.

MU has a beta of 2.83, meaning it tends to be more sensitive to market movements. MU has a correlation of 0.48 to the broad based SPY ETF.

MU has a market cap of $110.50 billion. This is considered a Large Cap stock.

Last quarter Micron Technology reported $8 billion in Revenue and $1.18 earnings per share. This beat revenue expectation by $120 million and exceeded earnings estimates by $.05.

In the last 3 years, MU traded as high as $157.54 and as low as $48.43.

The top ETF exchange traded funds that MU belongs to (by Net Assets): RAYD, VTI, VOO, QQQ, SPY.

MU has outperformed the market in the last year with a return of +51.5%, while the SPY ETF gained +38.5%. However, in the most recent history, MU shares have underperformed the stock market with its stock returning -2.7% in the last 3 month period and -8.8% for the last 2 week period, while SPY has returned +5.2% and -2.3%, respectively.

MU support price is $101.88 and resistance is $106.28 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MU shares will trade within this expected range on the day.