Tomorrow, Micron Technology, a leading memory chip manufacturer, is set to unveil its quarterly earnings report. After exceeding revenue expectations by 2% in the previous quarter, with a remarkable 81.5% year-over-year increase to $6.81 billion, investors are eagerly anticipating the company’s performance this time around.
Analysts predict a 90.5% year-over-year surge in revenue to $7.64 billion, a significant rebound from the 39.6% decline in the same quarter last year. Adjusted earnings per share are expected to reach $1.11. Notably, most analysts have reaffirmed their estimates in the past 30 days, indicating confidence in the company’s continued growth.
Although Micron Technology has missed revenue estimates three times in the past two years, its stock has been relatively stable, down 4.9% in the last month. The average analyst price target stands at $147.37, significantly higher than the current share price of $94.05.
As the first major semiconductor company to report earnings this season, Micron Technology’s performance will set the tone for the industry. While investors in the sector have been cautious, with average share prices dipping 1.3% in the last month, the company’s growth prospects remain promising.
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