MICRON TECHNOLOGY INC (NASDAQ:MU) - A High Growth Momentum Stock with Strong Technical Setup

MICRON TECHNOLOGY INC (NASDAQ:MU) stands out as a compelling candidate for high-growth momentum investors, combining robust earnings momentum with a favorable technical breakout pattern. The stock meets stringent criteria for growth, technical strength, and setup quality, making it worth a closer look.

Growth Momentum Highlights

• Exceptional Earnings Growth: MU reported a staggering 757% year-over-year EPS growth (TTM), reflecting a sharp recovery in profitability. Recent quarterly EPS growth rates remain strong, with the latest quarter up 208% and prior quarters showing similar strength.
• Revenue Expansion: Sales growth has been equally impressive, with 58.2% year-over-year revenue growth (TTM) and accelerating quarterly sales momentum.
• Positive Revisions & Surprises: Analysts have raised EPS estimates for the next year by 0.63% over the past three months, while the company has consistently beaten earnings expectations, averaging a 5.8% surprise over the last four quarters.
• Improving Profit Margins: Quarterly profit margins have expanded from 11.4% three quarters ago to 20.3% in the most recent report, signaling operational efficiency gains.

Technical Strength & Setup Quality

• Strong Technical Rating (9/10): MU is in a clear uptrend, with both short-term and long-term trends positive. The stock outperforms 76% of its semiconductor industry peers.
• Consolidation Pattern (Setup Rating: 7/10): Prices have pulled back slightly after a strong rally, forming a bull flag pattern—a potential entry point before another upward move.
• Key Support & Resistance: Immediate resistance sits near $124.77, with support around $119.91. A breakout above resistance could signal further upside.
• Volume & Liquidity: MU trades with strong average daily volume (21.3M shares), ensuring liquidity for investors.

For a deeper technical breakdown, review the full technical report on MU.

Our High Growth Momentum Breakout Setups Screen identifies more stocks with similar growth and technical characteristics.

Disclaimer

This is not investment advice. The observations here are based on current data, but market conditions can change. Always conduct your own research before making investment decisions.