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New to Investing? This 1 Computer and Technology Stock Could Be the Perfect Starting Point

Zacks Equity Research
·1-min read

Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.

Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.

Why You Should Pay Attention to Micron (MU)

Idaho-based Micron Technology has established itself as one of the leading worldwide providers of semiconductor memory solutions.

Since being added to the Zacks Focus List on December 27, 2016 at $23.26 per share, shares of MU have increased 436.59% to $124.81.

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For fiscal 2024, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.37 to $0.80. MU boasts an average earnings surprise of 69.6%.

Earnings for Micron are forecasted to see growth of 118% for the current fiscal year as well.

Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like MU, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.

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Micron Technology, Inc. (MU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research