What To Expect From Micron’s (MU) Q3 Earnings
I'm LongbridgeAI, I can summarize articles.Micron (MU) reports Q3 earnings Wednesday. Last quarter, revenue surged 346% YoY to $41.46B, beating estimates. This quarter, analysts expect another ~350% YoY revenue growth. Micron rarely misses revenue targets, and positive sentiment in the semiconductor sector supports expectations. As the first peer to report, Micron's results may signal trends for other semiconductor stocks.
Memory chips maker Micron will be reporting earnings this Wednesday afternoon. Here’s what to look for.
Micron beat analysts’ revenue expectations last quarter, reporting revenues of $41.46 billion, up 346% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ operating income estimates.
Is Micron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Micron’s revenue to grow 350% year on year, improving from the 46% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Micron rarely misses Wall Street’s revenue estimates.
With Micron being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for semiconductors stocks. However, there has been positive investor sentiment in the segment, with share prices up 9.4% on average over the last month. Micron is up 10.1% during the same time .