Micron (MU) closed the latest trading day at $93.25, indicating a +1.99% change from the previous session's end. This change outpaced the S&P 500's 0.65% loss on the day. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq depreciated by 0.96%.

Heading into today, shares of the chipmaker had gained 12.01% over the past month, outpacing the Computer and Technology sector's gain of 2.19% and the S&P 500's gain of 3.27% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to go public on March 20, 2024. The company is predicted to post an EPS of -$0.27, indicating an 85.86% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.33 billion, up 44.35% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.32 per share and a revenue of $22.67 billion, representing changes of +92.81% and +45.87%, respectively, from the prior year.

Any recent changes to analyst estimates for Micron should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 12.66% increase. Micron is currently sporting a Zacks Rank of #2 (Buy).

The Semiconductor Memory industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 2, which puts it in the top 1% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow MU in the coming trading sessions, be sure to utilize Zacks.com.

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