Memory chips maker Micron (NASDAQ: MU) will be reporting results this Wednesday after market hours. Here’s what to expect.
Micron beat analysts’ revenue expectations last quarter, reporting revenues of $23.86 billion, up 196% 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 289% year on year, improving from the 36.6% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing mostly upward revisions over the last 30 days. 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 8.7% on average over the last month. Micron is up 37.3% during the same time .
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