We will assess that and also consider if the market's overreaction was justified.Just last week, Micron hit an all-time high of $157.5, but the stock has since experienced a steep correction. This pullback is likely profit-taking as the stock has already rallied 66% YTD.
Micron reported EPS of $0.62, exceeding the anticipated $0.51. Similarly, sales reached $6.81 billion, surpassing the projected $6.67 billion. However, the company's forward guidance for the current quarter proved to be the source of investor discontent. Investors punished the stock not for missing expectations, but for merely meeting them. This reaction might seem excessive at first glance, but it reflects the high valuation already priced into Micron's stock.
InvestingPro's AI-driven ProPicks applies these principles through six thematic portfolios, re-evaluated monthly and available to all InvestingPro subscribers. These portfolios are a testament to the efficacy of AI in investment strategy.And the least we can say is that this method has paid off. Indeed, ProPicks strategies have performed impressively, both in real-life conditions since their launch in October 2023, and in the long-term backtests we've carried out.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: Investingcom - 🏆 450. / 53 Leer más »
Fuente: Investingcom - 🏆 450. / 53 Leer más »