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Micron Technology's stock price recovered the $1,000 mark last Friday, with a significant rally in its South Korean peers on Monday providing positive signals. The market is now focused on the company's earnings report at the end of September.
Micron Technology's stock closed up 6.1% at $1016.59 last Friday, marking its first close above the $1000 mark since August 17. Meanwhile, South Korean memory chip peers SK Hynix and Samsung Electronics surged 8.3% and 5.7% respectively in the South Korean market on Monday, providing positive signals for further upside in Micron's stock. The market is currently focused on Micron's fourth-quarter earnings report, due on September 30. FactSet data shows that adjusted earnings per share for the quarter are expected to jump significantly from $2.84 in the same period last year to $30.89, with revenue projected to increase from $11.32 billion to $50.41 billion.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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