Investing in the stock market can be intimidating for beginners, as there are numerous options available and it can be difficult to know where to start. One approach to consider is focusing on stocks that are expected to outperform the market in the upcoming year.
One exceptional stock to add to your portfolio is Micron (MU), a leading global provider of semiconductor memory solutions based in Idaho. Since being added to the Zacks Focus List in December 2016 at $23.26 per share, MU’s stock price has skyrocketed by 535.55% to $147.83.
Recently, analysts have revised their earnings estimate higher for Micron for fiscal 2024, with the Zacks Consensus Estimate increasing by $0.05 to $0.85. Moreover, MU has an average earnings surprise of 69.6%, indicating strong potential for future growth. Earnings for Micron are projected to grow by an impressive 119.1% for the current fiscal year.
Investing in companies with a projected increase in earnings can often lead to positive stock price reactions, making it a smart move to include a stock like MU in your portfolio. To gain more investment recommendations and insights, download the 7 Best Stocks for the Next 30 Days report from Zacks Investment Research today!
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