Micron Needs a Rosy Outlook to Justify Its Soaring Stock Price
Micron is expected to report net earnings per share of $2.65 on revenue of $11.2 billion in its fiscal fourth quarter.
(Bloomberg) — Micron Technology Inc.’s earnings after the bell Tuesday will shed light on whether the chipmaker’s high-flying stock has gotten ahead of itself after a 41% gain in September.
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Wall Street is betting that Micron’s results will feature a strong forecast for its high-bandwidth memory chips, a key component of the artificial intelligence infrastructure buildout. The rising demand comes as major companies such as Oracle Corp. affirm their commitment to spending on AI and Nvidia Corp. is investing in OpenAI to support more AI infrastructure.
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