economy
Micron Earnings and Inflation Data: What Jay Woods is Watching This Week
NYSE insider Jay Woods also dives into two other stocks reporting earnings this week: FedEx and Darden Restaurants.
TL;DR
- Micron stock is expected to potentially slide around 15% after posting fiscal third-quarter earnings.
- Micron stock has fallen six of the last eight times it reported earnings, with an average drop of 6.5%.
- Woods notes Micron stock is about 15% above its 20-day moving average and on its sixth Fibonacci extension higher.
- A potential pullback for Micron could be to the $1,000 level, a nearly 12% slide from its Thursday closing price.
- Other key events Woods is watching include earnings for FedEx and Darden Restaurants, the Russell reconstitution, and the personal consumption expenditures report.