{"id":3286,"date":"2022-03-31T06:13:20","date_gmt":"2022-03-31T06:13:20","guid":{"rendered":"https:\/\/linksus.net\/why-micron-stock-popped-today-the-motley-fool\/"},"modified":"2022-03-31T06:13:20","modified_gmt":"2022-03-31T06:13:20","slug":"why-micron-stock-popped-today-the-motley-fool","status":"publish","type":"post","link":"https:\/\/linksus2.linksus.net\/index.php\/2022\/03\/31\/why-micron-stock-popped-today-the-motley-fool\/","title":{"rendered":"Why Micron Stock Popped Today – The Motley Fool"},"content":{"rendered":"

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
You\u2019re reading a free article with opinions that may differ from The Motley Fool\u2019s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources<\/strong>, and more. Learn More<\/a>
Shares of computer memory-chip<\/a> maker Micron Technology <\/strong>( MU<\/a> -3.52%<\/span> )<\/span> jumped higher on Wednesday morning, after beating earnings Tuesday night, and were up 2.2% as of 10:20 a.m. ET today.
Heading into the quarter, analysts had forecast Micron would earn $1.97 per share on $7.5 billion in sales for its fiscal second quarter of 2022. In fact, it earned $2.14 per share on sales of $7.8 billion. \u00a0
Image source: Getty Images.
Micron grew its quarterly revenue 25% year over year in the second quarter, and the gross profit margin<\/a> earned on that revenue zoomed more than 20 full percentage points higher to 47.2%.
Despite rising operating costs, the huge improvement in both revenue and gross profit margin resulted in a big increase in operating profit margin,<\/a> nearly triple what Micron earned a year ago at 32.7%. Operating profits nearly quadrupled to $2.5 billion, as did net income at $2.3 billion.
On a per-share basis, Micron earned $2, nearly four times what it earned in the year-ago quarter. \u00a0
And the good news should only get better in the third quarter. In new guidance, Micron advised investors to look for revenue of $8.7 billion. Although the final figure could differ from that forecast by plus or minus $200 million, anything <\/em>in the neighborhood of $8.7 billion will be much more than the $8.1 billion quarter that Wall Street has been forecasting for Micron — an easy sales beat.
Similarly, Micron sees third-quarter earnings coming in near $2.33 per share, plus or minus $0.10. That’s well in excess of the $2.21 that Wall Street has been expecting. And Micron’s earnings forecast is for actual GAAP profits, rather than Wall Street’s more lenient non-GAAP earnings standard<\/a>.
Long story short, it was a beat-and-raise quarter for Micron, and investors are right to be happy.<\/p>\n

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
Market-beating stocks from our award-winning service.
Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 03\/31\/2022.
Discounted offers are only available to new members. Stock Advisor list price is $199 per year.
Calculated by Time-Weighted Return since 2002. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns as of January 1, 2021.<\/p>\n

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
Making the world smarter, happier, and richer.<\/p>\n

Market data powered by Xignite<\/a>.<\/p>\n

source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, […]<\/p>\n","protected":false},"author":869,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts\/3286"}],"collection":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/users\/869"}],"replies":[{"embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/comments?post=3286"}],"version-history":[{"count":0,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts\/3286\/revisions"}],"wp:attachment":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/media?parent=3286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/categories?post=3286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/tags?post=3286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}