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Seeking Clues to Micron (MU) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics

Zacks Equity Research
·2-min read

Wall Street analysts forecast that Micron (MU) will report quarterly earnings of $0.50 per share in its upcoming release, pointing to a year-over-year increase of 135%. It is anticipated that revenues will amount to $6.7 billion, exhibiting an increase of 78.6% compared to the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 6.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

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Bearing this in mind, let's now explore the average estimates of specific Micron metrics that are commonly monitored and projected by Wall Street analysts.

The consensus estimate for 'Revenue by Technology- DRAM' stands at $4.74 billion. The estimate indicates a change of +77.5% from the prior-year quarter.

It is projected by analysts that the 'Revenue by Technology- Other (primarily NOR)' will reach $99.38 million. The estimate points to a change of +48.3% from the year-ago quarter.

The combined assessment of analysts suggests that 'Revenue by Technology- NAND' will likely reach $1.86 billion. The estimate indicates a year-over-year change of +83.4%.

View all Key Company Metrics for Micron here>>>

Over the past month, Micron shares have recorded returns of +14.2% versus the Zacks S&P 500 composite's +3.2% change. Based on its Zacks Rank #2 (Buy), MU will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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Micron Technology, Inc. (MU) : Free Stock Analysis Report

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Zacks Investment Research