Micron Technology (NASDAQ:MU) reported earnings on June 30, and its stock price dropped over 5% on July 1. In today’s video, I look at the company’s recent earnings report, its valuation metrics, and important information for tech investors. Here are a few highlights from the video:
- Micron Technology is growing at impressive levels. For its fiscal third quarter of 2021, it reported 36% year-over-year revenue growth and a gross margin of 42.1% compared to 32.4% a year ago.
- Tech investors should be excited as Micron Technology expects strong demand from the data center, PC and graphics, mobile, and automobile markets through the rest of 2021.
- Micron’s forward price-to-sales ratio is higher compared to its average for the past 12 months. However, it is crucial to remember the company is still seeing strong growth and significant margin improvements.