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Micron Stock Forecast: 13.61% Gain Since Bullish Forecast

Micron Technology, Inc. is a global leader in advanced semiconductor systems founded in 1978 with headquarters in Boise, Idaho. On October 23^rd, I Know First published an article titled “Micron Stock Forecast: Why The Algorithm Still Forecasts A Bullish Signal For Micron Stock” on Seeking Alpha. The algorithm had a signal strength of 33.08 and a predictability indicator of 0.38. Since that time, the stock price has increased 13.61% in accordance with the algorithm’s prediction.

Micron released their last earnings report on September 25^th, where they mostly beat expectations. The company had revenue of $4.23 billion for the quarter, up 48.7% over the prior year. They also posted $0.82 earnings per share, beating expectations by $0.02. During the same quarter the previous year, the company had posted $0.20 earnings per share, also showing immense growth over the previous year. The performance of Micron’s stock price has been similarly impressive. As seen in the figure below, the value of the stock increased 70.87% on November 19^th from one year earlier.