From Nasdaq: 2024-06-24 11:03:00

Micron Technology is set to announce third-quarter fiscal results on June 26, with a projected non-GAAP earnings of 50 cents per share and revenues of $6.7 billion, showing significant growth from the previous year.

The company’s stock has surged 65.7% YTD, outperforming the Computer and Technology sector, driven by strong financial performance and improving demand for memory chips.

Micron has seen consistent improvement in financial results, with non-GAAP earnings beating estimates for the past four quarters. In Q2 of fiscal 2024, both top and bottom lines exceeded consensus marks.

Analysts estimate Micron’s revenues to grow over 51% in fiscal 2025, with earnings expected to soar over eightfold, reflecting strong industry trends and demand for memory chips.

Micron’s diversified product portfolio includes GDDR7 graphics memory tested by AMD and CDNS, along with HBM3E memory supplied to NVIDIA, positioning the company for growth in various tech sectors.

Micron’s strong financial position, innovation, and role in high-performance memory solutions make it an attractive investment, with a Zacks Rank #2 and Growth Score of B. The company’s cash reserves and liquidity support further growth and innovation.



Read more at Nasdaq: Should Micron (MU) be in Your Portfolio Before Q3 Earnings?