Is micron expected to go up after earnings release

Micron Technology (MU) is expected to report earnings of $0.38 per share for the quarter, based on 6 analysts' forecasts. This is a significant improvement from the previous quarter's earnings of $1.73 per share, which were reported on February 29, 2024. The consensus EPS forecast for the quarter is $0.38, which suggests that analysts are optimistic about Micron's performance.

1. Analyst Ratings and Price Targets: The consensus rating for MU stock is "Buy," and the average price target is $157.48, which is a 10.49% increase from the current stock price. This indicates that analysts believe the stock has potential to rise after earnings are released.
2. Growth Rates: Micron's diluted EPS growth rate for the most recent quarter was 163.39%, and the net income year-on-year growth rate was 134.3%. These high growth rates suggest that Micron is experiencing strong financial performance, which could lead to an increase in stock price.
3. Moving Averages: The 5-day moving average for MU is $143.46, the 10-day moving average is $142.55, and the 20-day moving average is $136.27. The fact that the 5-day moving average is above the 10-day and 20-day moving averages suggests a short-term upward trend in the stock price.
4. Technical Indicators: The stock's resistance level is $141.13, and the support level is $137.75. The fact that the current stock price is closer to the resistance level than the support level indicates a bullish sentiment.
5. Earnings Estimates: Micron's estimated revenue for the quarter is $6.7 billion, which is higher than the previous quarter's revenue of $5.82 billion. This increase in revenue expectations could lead to a positive market reaction.

In conclusion, based on the positive analyst ratings, price targets, growth rates, moving averages, technical indicators, and earnings estimates, it is likely that Micron's stock will go up after earnings are released. However, it's important to note that stock performance can be influenced by a multitude of factors, and the market's reaction to the earnings report will depend on the actual results compared to expectations.