Is Micron Technology (MU) a 'Buy' Ahead of Its Upcoming Earnings Announcement?
AI memory giant MicronMU-- is set to announce its fiscal second-quarter earnings results after Wednesday’s closing bell. The company has established a strong track record of surpassing earnings estimates, delivering a trailing four-quarter average earnings surprise of over 14%. But with markets showing enhanced volatility lately, is MUMU-- a buy ahead of the release?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Analysts are expecting Micron to post earnings of $8.80 per share, reflecting a 464.1% surge versus the same quarter last year. Revenues are anticipated to jump nearly 140% during the quarter to $19.3 billion. The stock remains a Zacks Rank #1 (Strong Buy).
Micron MU is benefitting from the rapidly expanding AI-driven memory and storage markets. Its products are increasingly being adopted by major hyperscalers and enterprise customers.
The company is cash-rich with a strong balance sheet and repurchased $300 million of stock in Q1. Our proprietary model predicts a positive earnings surprise for the upcoming announcement.
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Micron Technology, Inc. (MU): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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