Micron heads into June 24 earnings with investor expectations elevated after upbeat guidance
AI Market Summary
Micron's upcoming FQ3 earnings are expected to confirm an AI-driven memory upcycle, supported by sharply higher guidance versus last year and tight industry supply. Early volume shipments of HBM4 for Nvidia's Vera Rubin platform and improving yields suggest sustained mix and margin support. The setup increases sensitivity to results and outlook, with near-term spillover into the broader DRAM/NAND complex and AI infrastructure-linked semis.
Impact level
● Medium
Affected assets
NCSKDRAM2USD/USDT-1.21%
AI Insight · NCSKDRAM2USD/USDTAI Insight
▲ Bullish
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Micron is set to report fiscal Q3 2024 results on June 24 after issuing an upbeat outlook, forecasting about ~$33.5 billion in revenue, gross margins of around 81%, and non-GAAP earnings of about $19.15 per share. Those figures would be sharply higher than the year-ago quarter’s $9.3 billion in revenue, a 37.7% gross margin, and $1.91 per share. The company has begun volume shipments of HBM4 and is supplying Nvidia’s Vera Rubin platform, as AI-related memory demand continues to outstrip supply. Wall Street analysts largely rate the stock a “Strong Buy” and expect results could come in above forecasts.
