Micron Technology reported its third-quarter earnings, surpassing revenue estimates due to strong demand for AI-driven memory chips. The company achieved a 17% sequential revenue growth and 82% year-over-year growth, driven by robust AI demand and strong execution. Despite the positive earnings report, Micron's stock fell by 6.5% in after-hours trading as its fourth-quarter guidance of $7.6 billion in revenue and $1.08 non-GAAP EPS slightly exceeded consensus but failed to meet high market expectations. Analysts have raised price targets for Micron, with Goldman Sachs increasing its target to $158 from $138, and JPMorgan raising its target to $180. BofA anticipates significant growth in FY24 and FY25. The sell-off highlights the risks associated with high expectations in the AI chip market. Additionally, Micron reported record automotive revenues and guided to 90% growth.
⚠️ JUST IN: *ANALYSTS RAISE NUMBERS ON MICRON STOCK, URGE INVESTORS TO BUY THE DIP DO YOU AGREE OR DISAGREE? $MU https://t.co/r1hV6u03W5
$MU | Micron price target changes today following its Q3 earnings report: Needham Maintains Buy on Micron Technology, Raises Price Target to $150 from $120 Piper Sandler Maintains Overweight on Micron Technology, Raises Price Target to $150 from $130 Rosenblatt Maintains Buy…
Micron's stock takes a hit as AI expectations face reality. The memory chip maker, founded by potato 🥔 king 👑Simplot, has been a key player in AI tech. But even a strong earnings beat couldn't prevent a 3% drop after soft guidance. Still, with the stock up $50 from January,… https://t.co/6tqqbk8V24
Memory-Chip Maker Micron Beats Q3 Targets, But In-Line Outlook Disappoints https://t.co/mPYt1ckkEM
Micron, the largest US maker of computer memory chips, dropped after its forecast disappointed investors seeking a bigger payoff from artificial intelligence mania https://t.co/Hh8RFTwjRI https://t.co/6SqDXdq9pr
$MU | JP Morgan Raises Micron's PT to $180 from $130, Reiterates Overweight Rating
Micron’s sell-off highlights risk of sky-high AI expectations $MU $NVDA
US pre-market movers: ES & NQ flat RTY +0.3% $MU-6%: EPS & rev. beat, but FCF fell short w/ next Q guidance ‘only inline’ $WBA -15.5%: EPS missed w/ FY outlook light as it expects recent headwinds to persist into FY24 $LEVI -16%: Rev. missed, hurt by choppy wholesale demand in…
Analysts raise numbers on Micron $MU stock, urge investors to buy the dip https://t.co/0nSGfeA7BE https://t.co/xvYiOr2VJu
$MU Key Takeaways - PC and Smartphone: Anticipated growth in AI PCs and smartphones is expected to drive demand. - Automotive: Record quarter for automotive revenues with robust demand. - Industrial and Retail: Near-term demand uncertainty, but long-term growth expected.
#MICRON FALLS 5% DESPITE EARNINGS BEAT, AS OUTLOOK DISAPPOINTS LOFTY, AI-DRIVEN WALL STREET HOPES $MU
$MU (-4.8% pre) Micron shares slide after revenue forecast fails to top estimates - CNBC https://t.co/A4Rx0Qu4Tp
$MU #Micron Analyst Revisions & Ratings 🔸 Needham: Raised to $150 from $120 - Buy 🔸 UBS: Cut to $153 from $155 - Neutral 🔸 CFRA: Maintained at $170 - Buy 🔸 Mizuho: Maintained at $155 - Outperform 🔸 Barclays: Maintained at $145 - Overweight
$MU #Micron Analyst Revisions & Ratings 🔸 TD Cowen: Raised to $160 from $150 - Buy 🔸 KeyBanc: Raised to $160 from $150 - Overweight 🔸 Goldman Sachs: Raised to $158 from $138 - Buy 🔸 Piper Sandler: Raised to $150 from $130 - Overweight
$MU is starting to look like a no-brainer: • Revenue up 82% y/y, 17% q/q • Earnings per share 17% above expectations • High-bandwidth memory products sold out through 2025 Big tailwinds for $MU in the era of generative AI: https://t.co/IWJLwro81Z
Premarket on Thursday: $MU dipped 6% after missing quarterly forecasts, influenced by AI hype. $LEVI plummeted 16% due to weak demand for Dockers. $WBA fell 4.8% after cutting fiscal 2024 guidance. $AVAV declined 7.1% on a 57% earnings drop.
MICRON FALLS 5% DESPITE EARNINGS BEAT, AS OUTLOOK DISAPPOINTS LOFTY, AI-DRIVEN WALL STREET HOPES $MU
$MU | BofA Reiterates Buy Rating with $170 PT Analyst Comments: "We now anticipate sales to grow +78%/+41% YoY. FQ2 modestly above, FQ3 came in-line. Micron (MU) fully ramping HBM3e, expected to reach “several hundred million” sales in FY24 and “multi-billion” dollar run-rate in… https://t.co/qnASpCputO
$MU BofA - 'we now anticipate sales to grow +78%/+41% YoY' FQ2 modestly above, FQ3 came in-line. As anticipated, Micron (MU) has now begun fully ramping HBM3e (NVDA H200s), expected to reach “several hundred million” sales in FY24 and “multi-billion” dollar run-rate in FY25…
$MU price target raised to $180 from $130 at JPMorgan $MU should be bought on post-earnings selloff, says Citi $MU target raised to $160 from $150 at KeyBanc $MU price target raised to $150 from $130 at Piper Sandler $MU price target lowered to $153 from $155 at UBS
$MU: -5.6% https://t.co/9FuFrpKllk
#MicronTechnology’s post-results selloff sends fresh reminder to global investors about risks inherent in bets on #AI chipmakers.
$MU | Goldman Sachs Raises Micron Target Price To $158 From $138
Micron’s sell-off highlights risk of sky-high AI expectations $MU $NVDA https://t.co/xuvaOSlQt1 via @business
Micron’s post-results selloff sent a fresh reminder to global investors about the risks inherent in bets on AI chipmakers https://t.co/KVRiVcOQA9
Micron’s stock slumps as fourth-quarter guidance disappoints https://t.co/HYI5syySpw
$MU falls sharply in after-hours trading as guidance comes in lower-than-expectations. AI chip stocks are priced to perfection. Anything less and they will be slammed. Look for sector weakness tomorrow.
Micron Technology Q3 earnings: lets look at the #AI PC in these results 💰 https://t.co/LB7vkdRCoQ $MU 🎙️ @DrillDownPod #DrillDownEarnings @FuturumGroup #DDE #Micron
$MU CEO today: "Demand for AI PCs and AI smartphones and continued growth of AI in the data center create a favorable setup that gives us confidence we can deliver a substantial revenue record in fiscal 2025 with significantly improved profitability"
Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up https://t.co/PArdSk9VQN https://t.co/ZJZtewfvj3
Micron Technology exceeds Q3 revenue predictions fueled by high demand for AI chips 🚀💰 How are they leading the way in the tech industry? #AI #Technology @MicronTech Join the conversation! https://t.co/5ZKfPqiV2t
Micron double beat but guidance in-line. CEO: "Robust AI demand and strong execution enabled Micron to drive 17% sequential revenue growth, exceeding our guidance range in fiscal Q3" $MU: -5.2% AH https://t.co/WV032ZDjiR
$MU is down 6% after earnings report. It was not a blow out enough quarter for the fast money to get incrementally more excited, so they're selling the stock. That said, the AI story is intact. They just reported 82% YoY growth and guided to 90% growth, which was inline with…
Micron Q3 results beats estimates on AI-led memory chip demand; guidance in-line https://t.co/Fle7xvLAnA https://t.co/SyEz7yqRhm
Micron $MU https://t.co/NaXLe7aHlA
Micron $MU buyside expectations too high going into print $NVDA $AMD $SMCI - FY4Q sales will be $7.4-7.8bn vs est $7.58 (slight sell side beat, but not enough) https://t.co/4eTMVmvY5Y
$MU guiding for FQ4 revenue of $7.6B (+/- $200M) and non-GAAP EPS of $1.08 (+/- $0.08), just a little above a consensus of $7.58B and $1.04 at the midpoints. Stock is down 6.5% AH for now. Not terrible numbers, but expectations and recent chasing of AI semis loom large. https://t.co/KB4xcZQ4mQ
🔵 MICRON BEATS ESTIMATES FOR THIRD-QUARTER REVENUE Chipmaker Micron Technology beat estimates for third-quarter revenue on Wednesday, driven by a surge in demand for its memory chips from the booming AI industry and improved pricing in other markets. Full Story via Reuters on…
$MU ouch
Micron Semiconductor collapses over 10% on earnings $MU #MacroEdge
Micron has gone full blown parabolic on the monthly chart... Will they have the earnings results to back it up today? 🧐 $MU https://t.co/tJXrUWzx1N
Micron $MU moment of truth is upon us. $NVDA $AMD $AVGO https://t.co/TzjwLtwtIP https://t.co/clOS1YOmK9
$MU reporting earnings later in the afternoon. $NVDA $AMD $ARM
It's a BIG day for semiconductors -- $MU earnings after market close! Check out that volume over the last few sessions... It's about to go down. 👀🍿 https://t.co/wFWAEwILhK
Micron's $62 billion artificial intelligence-driven rally is about to face a test of whether it has jumped too far, too fast. https://t.co/CD8mScNHYL
Micron $MU earnings preview: Analysts unveil new price targets ahead of Q3 print https://t.co/R89AZBgysO https://t.co/OyDAs88MrR
Micron’s Earnings Should Get a Boost From AI Servers and PCs https://t.co/clhK9l4NXD
Micron $MU Earnings Setup - Stock Sits at an ATH and Expensive P/E Data in the table is choppy due to EPS dipping into negative territory recently, but 19x off of $7/sh expected earnings reflects expectations for a new spending cycle in the memory sector. Results tomorrow AH. https://t.co/w2Ibu5sVsB https://t.co/yw1QDyoFTf
Micron $MU Earnings Setup - Stock Sits at an ATH and Expensive P/E Data in the table is choppy due to EPS dipping into negative territory recently, but 19x off of $7/sh expected earnings reflects expectations for a new spending cycle in the memory sector. Results tomorrow PM. https://t.co/qaPRSnDkJF https://t.co/yw1QDyoFTf