Explore the latest developments concerning Micron to report.
Micron to report third quarter earnings amid sky-high demand from data centers
Micron (MU) will report its third quarter earnings after the bell today as the memory industry continues to see tailwinds from the global AI build-out.
Chip stocks, however, have been broadly hammered since the start of the week on concerns over AI spending and implementation.
Micron stock has soared a staggering 727% over the past 12 months and is up 270% since January. Rival memory maker SK Hynix (000660.KS) has seen similar stock movement, with shares rocketing 826% higher over the past 12 months and 296% year to date.
Those kinds of massive gains have raised concerns among some analysts and investors, but AI bulls say the proof is in the earnings numbers.
Micron: You Snooze, You Lose (NASDAQ:MU)
Intensifying macroeconomic uncertainties in recent weeks has introduced renewed volatility and whipsawed the broader memory market. Micron Technology, Inc. (MU) opened almost 11% lower on June 23 trading, following weakness observed during the preceding KOSPI
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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