Micron earnings preview: Wall Street will get a glimpse into what's ahead for US chipmakers

Published On Sep 25, 2024, 1:29 PM

Micron Technology is set to report its quarterly earnings soon, which will provide insights into the health of the semiconductor industry, particularly as it relates to AI demands. Analysts anticipate that Micron will report revenues of approximately $7.66 billion, significantly higher than last year’s figures. Despite the optimism, previous earnings reports, including that of Nvidia, have seen stocks decline even with positive earnings due to high expectations. Currently, most analysts have a buy rating on Micron, forecasting a potential share price rise of over 50%. However, there are mixed opinions regarding its valuation, with some believing it's fundamentally too expensive.

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Negative

Micron is expected to report strong revenues driven by its partnership with Nvidia and the growing demand for chips in AI. Although there are high expectations, the company's past performance shows that meeting but not exceeding anticipations hasn't been well received, which might lead to stock declines after the earnings report.

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