Micron set to report earnings after the close as investors gauge AI memory boom
Micron Technology (MU) is set to report fiscal third-quarter results after the market closes on Wednesday, with investors focused on whether booming AI-related memory demand can support the stock's massive 250% year-to-date rally. According to AlphaStreet, Wall Street expects earnings of about $19.72 per share on revenue of $34.5 billion. Investors will be closely watching management's outlook for high-bandwidth memory demand, pricing trends and long-term customer commitments as they assess the durability of the AI spending boom.
Micron shares are up about 3% in premarket trading on Wednesday, recovering some ground after plunging as much as 13% in Tuesday's session.