Micron (MU) closed the most recent trading day at $99.18, moving -0.74% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.61%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.64%.

The the stock of chipmaker has fallen by 8.53% in the past month, lagging the Computer and Technology sector's gain of 3.03% and the S&P 500's gain of 3.07%.

Investors will be eagerly watching for the performance of Micron in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.75, marking a 284.21% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $8.71 billion, indicating an 84.33% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.66 per share and a revenue of $38.12 billion, signifying shifts of +566.15% and +51.79%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Micron. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Micron is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 11.53. This indicates a discount in contrast to its industry's Forward P/E of 14.3.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 146, this industry ranks in the bottom 43% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.