Memory chips maker Micron (NYSE:MU) might be asserting earnings outcomes this Wednesday afternoon. Here’s what you must know.
Micron beat analysts’ income expectations final quarter, reporting revenues of $13.64 billion, up 56.7% 12 months on 12 months. It was an distinctive quarter for the corporate, with a beat of analysts’ EPS and adjusted working earnings estimates.
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This quarter, the market is anticipating Micron’s income to develop 147% 12 months on 12 months, enhancing from the 38.3% improve it recorded in the identical quarter final 12 months.
Analysts protecting the corporate have usually reconfirmed their estimates over the past 30 days, suggesting they anticipate the enterprise to remain the course heading into earnings. Micron not often misses Wall Street’s income estimates.
With Micron being the primary amongst its friends to report earnings this season, we don’t have wherever else to look to get a touch at how this quarter will unravel for semiconductors shares. However, the entire sector has confronted a sell-off over the past month with shares in Micron’s peer group down 6% on common. Micron is up 12% throughout the identical time .
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