New to Investing? This 1 Computer and Technology Stock Could Be the Perfect Starting Point
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
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.
On December 27, 2016, MU was added to the Zacks Focus List at $23.26 per share. Shares have increased 535.55% to $147.83 since then.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.05 to $0.85. MU also boasts an average earnings surprise of 69.6%.
Earnings for Micron are forecasted to see growth of 119.1% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Micron Technology, Inc. (MU) : Free Stock Analysis Report
