Micron (MU) closed at $99.73 in the latest trading session, marking a +0.08% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.41% for the day. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 0.8%.

Shares of the chipmaker have depreciated by 2.13% over the course of the past month, underperforming the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.

Analysts and investors alike will be keeping a close eye on the performance of Micron in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.75, indicating a 284.21% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $8.71 billion, up 84.33% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $8.66 per share and revenue of $38.12 billion, which would represent changes of +566.15% and +51.79%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Micron possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Micron is currently trading at a Forward P/E ratio of 11.5. For comparison, its industry has an average Forward P/E of 15.59, which means Micron is trading at a discount to the group.

The Computer - Integrated Systems industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 33, this industry ranks in the top 14% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.