Micron stock closed the last trading session at a price of $34.87 a share, less than a couple of dollars from its all-time high of $36.6 a share.
Micron stock has a history of making big moves in the trading session immediately following an earnings announcement.
Micron stock has advanced, on average, by 1.34% in the trading session immediately following the last eight earnings announcements.
When looking at the more recent four quarters (where the company has beaten the Wall Street estimates by a big margin), Micron stock has advanced by an average of 3.6% in the trading session immediately following an earnings release.
Quoting Sanjay Mehrotra, President and Chief Executive Officer of Micron, from the Q3 2017 earnings release "We expect healthy industry demand to persist into 2018, supported by continued strong growth in both DRAM and NAND demand, reflecting broader trends in the data center and mobile markets, as well as increased adoption of SSDs across enterprise, cloud and client PCs." To put it another way, Micron should continue to deliver strong top-line/earnings growth over the next few quarters.