Micron Q3 Expectations Soar with $35.3B Revenue, $20.3 EPS; Anthropic AI Deal Bolsters Outlook
MU has more than doubled off its 52-week low of $103.38.
Summary
Micron is expected to report robust Q3 results with revenue around $35.3 billion and EPS near $20.3, implying substantial year-over-year growth. This follows a period of strong market sentiment driven by AI demand, as evidenced by recent news of sold-out HBM supply and record forecasts. The new partnership and long-term memory supply deal with AI leader Anthropic, coupled with an investment, further solidifies Micron's critical role in the AI ecosystem. Traders will be closely watching the actual Q3 earnings report and any details on future supply deals when the company reports after the U.S. close today.
At the time of this announcement, MU was trading at $1,065.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $103.38 to $1,213.56. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.