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Micron Technology is set to report its fiscal fourth-quarter earnings today after the market closes. The chip maker, known for its partnership with Nvidia, has faced concerns about slowing demand for PCs and smartphones, though the rise of AI has provided some support for the stock.
Analysts expect Micron to post a net income of $1 billion, a sharp turnaround from the $1.43 billion loss reported a year earlier. Revenue is projected to nearly double, reaching $7.65 billion, compared to $4.01 billion for the same period last year.
Despite the positive outlook for earnings, Micron has struggled with high inventory levels, prompting Citi analysts to lower their price target from $175 to $150. However, they anticipate an improvement by the end of the year, with revenue and margins expected to rise in the coming quarters.
Looking ahead, analysts forecast revenue of $8.4 billion for the first quarter of 2025, driven by strong demand for AI-driven upgrades and datacenter growth. Micron shares have gained about 10% this year, and investors will be closely watching today’s report for signs of future growth.
As of 10:08 am the shares were trading 1.35% higher at $95.27
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