Micron Technology (MU) Trades Positive into Q2 Print Amid Analyst Caution
Micron Technology (Nasdaq: MU) shares are trading positive Wednesday afternoon ahead of the company's Q216 report, which is expected out after markets close. However, some might be wondering why.
Ahead of today's report, several analysts were negative on the name:
- Yesterday, Needham & Company downgraded the stock to Underperform, noting a weak PC market
- Sterne Agee CRT cut estimates on Monday, citing DRAM headwinds
- Also on Monday, Wedbush said that investors shouldn't be pressing the 'Buy' button on Micron into today's report, also citing macro PC pressure
Micron is expected to produce a Q2 loss of $0.08 per share on revenue of $3.05 billion, versus EPS of $0.81 and revenue of $4.17 billion posted in the same period last year.
Shares of Micron are up 1.2 percent.