Memory chips maker Micron (NYSE: MU) will be reporting earnings this Wednesday after market hours. Here’s what you need to know.
Micron beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $8.05 billion, up 38.3% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EPS estimates but an increase in its inventory levels.
Is Micron a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Micron’s revenue to grow 30.1% year on year to $8.86 billion, slowing from the 81.5% 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 to stay the course heading into earnings. Micron has missed Wall Street’s revenue estimates twice over the last two years.
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 unravel for semiconductors stocks. However, there has been positive investor sentiment in the segment, with share prices up 8.2% on average over the last month. Micron is up 28.4% during the same time.
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