Micron Technology rose ahead of earnings report.

Shares of Micron Technology Inc. (NASDAQ: MU) rose 1.06% in pre-market trading on Wednesday, a substantial increase. This surge is due to investors eagerly anticipating the company's financial report for the first quarter of fiscal 2025.
According to Benzinga Pro, Micron's year-to-date (YTD) return has significantly increased by 31.89%. The company has consistently surpassed analysts' earnings forecasts for 6 consecutive quarters, as well as in 7 out of the past 10 quarters.
Analysts are predicting earnings per share of $1.76 for the first quarter, a significant improvement from a loss of 95 cents per share in the same quarter last year.

Micron once again exceeded analysts' earnings per share expectations for the third consecutive quarter, as well as in 7 out of the past 10 quarters. According to the company's guidance, revenue for the first quarter is expected to be in the range of $8.5 billion to $8.9 billion, with earnings per share expected to be between $1.66 and $1.82.

The recent performance of Micron Technology is underpinned by significant investment announcements. On December 10, the White House announced that Micron had secured investments exceeding $6.1 billion.
This funding will be used to support the construction of advanced memory chip facilities in Clay, New York and Boise, Idaho. Vice President Kamala Harris emphasized that by the end of this decade, there is a possibility of creating employment for at least 20,000 individuals.
Furthermore, the Department of Commerce has agreed to interim terms to invest an additional $275 million in expanding Micron's facility in Manassas, Virginia. This expansion will support crucial technologies essential in the defense, automobile, and national security sectors.

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