MU Q3 2024 Earnings Preview: Grab rewards by guessing the opening price!
Micron Technology is releasing its FQ3 2024 earnings after the market closes on June 26.
●Micron has exceeded earnings expectations four quarters in a row, with a positive earnings-per-share (EPS) expectation this week for the first time in a year.
● MU has massive implied volatility ahead of earnings, with an expected stock price move of +/-13%.
● How will the market react to the upcoming results? Make your guess now! ![]()
🎁Rewards
● An equal share of 10,000 points: For mooers who correctly guess the price range of $Micron Technology (MU.US)$'s opening price at 9:30 AM ET June 27 (e.g., If 50 mooers make a correct guess, each of them will get 200 points.)
(Vote will close on 8:00 AM ET June 27)
● Exclusive 300 points: For the writer of the top post on analyzing Micron's earnings prospects.
Note:
1. Rewards will be distributed within 5-7 working days after the result's announcement.
2. Rewards can be used to exchange gifts at the Rewards Club (moomoo app>> Me>> Redeem Points).
3. The selection is based on post quality, originality, and user engagement.
1. Rewards will be distributed within 5-7 working days after the result's announcement.
2. Rewards can be used to exchange gifts at the Rewards Club (moomoo app>> Me>> Redeem Points).
3. The selection is based on post quality, originality, and user engagement.
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Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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102362254 : Micron's upcoming earnings look strong as analysts from J.P. Morgan and Citi expect better-than-expected guidance for Q4 2024. This optimism comes from Micron's involvement in AI chips and partnership with Nvidia. Micron provides key memory solutions for Nvidia's AI GPUs, crucial for their performance. This partnership is a significant reason why Micron's Q3 2024 earnings are anticipated to grow, driven by rising demand for AI technology and strong partnerships. The positive outlook is also supported by improvements in the DRAM market and Micron's increased focus on AI memory solutions.
mr_cashcow : Micron Technology's Q3 earnings report highlights includes the following:
Revenue: $3.75 billion, up from $3.69 billion in the prior quarter and $8.64 billion in the same quarter last year
Wafer starts reduced by 30% for both DRAM and NAND
Gross margin: 24.5%, up from 23.4% in the prior quarter
Operating income: $876 million, up from $817 million in the prior quarter
Net income: $730 million, up from $678 million in the prior quarter
EPS: $1.00, up from $0.95 in the prior quarter
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Overall it looks good
Wonder : Riding on the AI wave, $Micron Technology (MU.US)$ could be a beneficiary of rising demand for its chips that power cloud and AI servers amid higher prices in the DRAM and NAND industry. Analysts have issued expectations of a better performance and forward guidance for Q4 2024.
小trader : Think there is almost no way for Micron to announce a weak result this week. For now, the hardware companies are still benefiting from this first wave of AI. With Nvidia’s earning recently announced, it further provide support for Micron to do well!
ZnWC : Opening price range after earnings: Above 150
Here are the reasons:
1) The stock stands to gain from growing demand for AI chips and its partnership with Nvidia.
2) Analysts project Micron's revenue to come in at $6.7 billion for the fiscal Q3 2024, up QoQ and YoY
3) Net income is expected to be $399.39 million, compared to a loss of $1.9 billion in the fiscal Q3 2023.
4) Diluted earnings per share (EPS) could come in at $0.30 cents, up from a loss of $1.73 per share in Q3 2023
5) Analysts at J.P. Morgan and Citi indicated they expect Micron to announce stronger-than- expected guidance for Q4
6) Citi analysts are projecting Q4 revenue guidance to be $8 billion.The analysts lifted their price target for the "top pick" stock to $175 from $150.
$Micron Technology (MU.US)$ rose 65.26% YTD. The only concern is the stock is expecting a price correction soon. The share price fell 8% in the 5-days trend.
AnnYeo God of Money : Micron Technology's earnings prospects are shaped by several key factors:
1. Memory Market Demand: As a major producer of DRAM and NAND flash memory, Micron benefits from strong demand in sectors like data centers, mobile devices, and PCs.
2. AI and 5G Growth: Increasing adoption of AI and 5G technologies drives demand for high-performance memory solutions.
3. Cost Management: Micron’s focus on cost control and efficiency improvements can enhance profitability, especially in periods of volatile memory prices.
4. Technological Advancements: Continuous innovation in memory technology, such as higher density and faster memory chips, supports long-term growth.
5. Global Supply Chain: Supply chain disruptions and geopolitical tensions can impact production and pricing, affecting earnings.
6. Financial Health: Strong balance sheet and cash flow position enable investment in future growth and return of capital to shareholders.
Overall, while Micron has strong growth drivers, potential investors should consider market cyclicality and global economic conditions.
Hase Investment King : $Micron Technology (MU.US)$ reported a revenue target of $6.6 billion for the third quarter of fiscal year 2024. This projection follows their strong performance in the second quarter of the same fiscal year, where they reported $5.82 billion in revenue, showing a significant increase from $4.73 billion in the prior quarter and $3.69 billion in the same period the previous year.
Besides, it collaborates with several major companies across various sectors to enhance their technology and business operations. Some of their notable collaborators include:
NVIDIA: to optimize memory solutions for high-performance computing and artificial intelligence applications. This partnership aims to improve the performance and efficiency of NVIDIA’s GPUs.
Microsoft: work together to enhance cloud computing solutions. This collaboration focuses on integrating Micron’s memory and storage technologies with Microsoft Azure to improve data center performance and efficiency.
Google: to develop advanced memory solutions for data centers and AI applications. Their collaboration aims to address the growing demands for high-speed data processing and storage in cloud environments.
Broadcom : develop next-generation storage solutions. This partnership focuses on integrating Micron’s memory technology with Broadcom’s storage controllers to enhance data storage performance.
Dell: to provide advanced memory and storage solutions for enterprise applications. This collaboration helps deliver high-performance computing solutions to businesses.
Therefore, I believed the uptrends of these companies could have a positive impact on $Micron Technology (MU.US)$ !
非洲之旅 : Thuja
Matomic : pullback going in means pop after earnings
细水长流财富自由 : 150+
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