Micron Technology (MU 0.49%) 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.
Click the video below for my full thoughts and analysis.
*Stock prices used were the closed prices of July 1, 2021. The video was published on July 1, 2021.
