Micron's Q4 Earnings Loom: Analysts Eye $31.49 EPS, $50.9B Revenue Amid Memory Shortage
MU has more than doubled off its 52-week low of $154.65.
Summary
Micron reports fiscal Q4 results Wednesday evening with consensus at $31.49 EPS on $50.9B revenue. The stock is up nearly 280% YTD but sits over 10% below its June record close of ~$1,213. Focus is on memory shortage durability and demand sustainability as new supply comes online. Citi raised its target to $1,300 from $1,150 this week, while UBS and Wells Fargo emphasize demand durability and capital returns. Jim Cramer suggests a potential buyback after CHIPS Act restrictions expire in December. This follows a string of strong Q3 results and $100B in long-term supply deals, making the guidance and commentary on memory tightness the key swing factor.
At the time of this announcement, MU was trading at $1,085.02 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2T. The 52-week trading range was $154.65 to $1,255.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Binance News.