Micron Stock Plummets Post-Success
This is a news story, published by Yahoo Finance, that relates primarily to Micron news.
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•Should You Buy Micron Stock After the Dip? Wall Street Has a Clear Answer for Investors.
83% Informative
Micron Technology ( NASDAQ : MU ) stock surged nearly 80% in early 2024 and reached an all-time high of $ 153.14 .
Despite this success, the stock is currently down by almost 32% from those highs.
Micron came out with impressive results for its fiscal 2024's fourth quarter (ended Aug. 29 ) in late September .
Wall Street is also optimistic about Micron stock.
Micron reported a non-GAAP net income of $1.47 billion in fiscal 2024 , a dramatic improvement from a $4.86 billion loss in the previous year .
The company also boasts a strong balance sheet with $9.2 billion in cash and investments and $13.4 billion in total debt.
Despite the many strengths and improving financials, the stock is trading at 4.6 times sales.
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