- Yahoo Finance Video
Micron's 'stumbling block' could be its Q4 revenue guidance
Micron Technology's (MU) fiscal third-quarter earnings results topped estimates, reporting adjusted earnings of $0.62 per share (expected $0.50 per share) and $6.81 billion in revenue (expected $6.67 billion) after the market close on Wednesday. While closing just a pinch higher in Wednesday's regular trading hours, Micron shares are dropping in after-hours trading. Synovus Trust Senior Portfolio Manager Dan Morgan comes onto Market Domination Overtime to comment on the chip company's guidance while it's now being considered a top AI play. Micron's stock has currently swung higher by over 72% in 2024 year-to-date. "It looks like the stumbling block right now.... was that revenue number $7.6 billion plus-or-minus $200,000, that's exactly what the Street was looking for," Morgan tells Yahoo Finance. "I was looking over kind of what the expectations were, and the motto really seemed to be 'beat on the third quarter and raise on the fourth quarter.' And the fact that they didn't raise that revenue number and they came in line, I think that... is why we're seeing the stock sell off a little bit." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Micron earnings: What to expect
Micron Technology's (MU) stock is trading higher as investors await the company's quarterly earnings report, scheduled for release after the market closes on Wednesday. The surge in interest is largely driven by the growing artificial intelligence (AI) sector and increasing demand for memory solutions — with Wall Street analysts projecting Micron to report revenue of $6.7 billion for the quarter. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
- Reuters
Micron Technology beats estimates for third-quarter revenue on AI chip demand
Investors had sent the stock up 13% this month, ahead of earnings, on optimism that Micron would benefit from AI-driven demand. The company forecast revenue of $7.6 billion, plus or minus $200 million, for the current quarter, compared with an estimate of $7.6 billion, according to LSEG data. Micron is one of the few providers of high-bandwidth memory chips used in the most advanced AI systems, allowing it to cash in on surging demand for the semiconductors.
