Year-to-date, Micron shares have tumbled, decreasing nearly 40% in value and extensively underperforming the S&P 500.
Micron Technology (NASDAQ: MU) has been battered badly on the stock market in 2022, with share prices of the chipmaker down 37% so far despite a string of impressive quarterly results and its terrific growth. Investors, however, will be hoping for a turnaround in the memory specialist's fortunes when it releases its fiscal 2022 third-quarter earnings report on Thursday, June 30. More importantly, will Micron's guidance be solid enough to trigger a rally in the stock?
Industry-wide component supply constraints are expected to have negatively impacted Micron's (MU) top and bottom lines in the third quarter of fiscal 2022.