Micron Drops 1.61% to $1,000 Before Sept 30 Earnings — SkimNews
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- Micron closed at $1,000.26, down 1.61% on September 8, 2026, underperforming the S&P 500 (-0.58%), Dow (-1.18%), and Nasdaq (-0.32%)
- Micron shares have gained 18.07% over the past month, beating the Computer and Technology sector's 0.12% gain and the S&P 500's 0.36% loss over the same period
- Micron is scheduled to report earnings on September 30, 2026, with the Zacks Consensus Estimate forecasting EPS of $31.39, up 935.97% year-over-year, and revenue of $50.76 billion, up 348.58%
- Zacks full-year estimates project earnings of $73.86 per share (+790.95% YoY) and revenue of $129.61 billion (+246.76% YoY)
- Micron trades at a Forward P/E of 6.44, a deep discount to its industry's average Forward P/E of 21.01, with a PEG ratio of 0.64 matching the industry average
- Micron carries a Zacks Rank of #2 (Buy), with the Zacks Consensus EPS estimate edging up 0.01% over the past month
- Micron's Computer – Integrated Systems industry holds a Zacks Industry Rank of 29, placing it in the top 12% of all 250+ industries tracked
Why it matters: Micron's 1.61% daily decline cuts against a robust 18.07% monthly gain and an industry-leading Forward P/E discount of 6.44 versus 21.01, meaning the September 30 print — where Zacks forecasts a 935.97% EPS jump — will test whether the discount closes or the rally extends past the $1,000 mark.
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