Micron Technology Rises Ahead Of Earnings Report

Micron Technology Inc. MU stock experienced a notable uptick in pre-market trading on Wednesday, climbing by 1.06%. This surge comes as investors eagerly await the company’s fiscal 2025 first-quarter earnings report.

What Happened: According to Benzinga Pro, Micron has seen a substantial 31.89% increase in year-to-date (YTD) returns. The company has consistently outperformed analyst revenue projections, surpassing expectations in six consecutive quarters and in seven of the last ten quarters overall.

Analysts are forecasting first-quarter earnings per share of $1.76, a significant improvement from a loss of 95 cents per share in the same quarter last year.

Micron has also exceeded analyst earnings per share estimates in three consecutive quarters and in seven of the last ten quarters overall. The company’s guidance suggests first-quarter revenue will range between $8.5 billion and $8.9 billion, with earnings per share expected to be between $1.66 and $1.82.

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Why It Matters: The recent performance of Micron Technology is bolstered by a significant investment announcement. On Dec. 10, the White House revealed that Micron had secured an investment exceeding $6.1 billion.

This funding will aid in constructing advanced memory chip facilities in Clay, New York, and Boise, Idaho, with Vice President Kamala Harris highlighting the potential creation of at least 20,000 jobs by the decade’s end.

Additionally, the Department of Commerce has agreed to preliminary terms for a further $275 million investment to expand Micron’s facility in Manassas, Virginia. This expansion will support critical technologies essential to the defense, automotive, and national security sectors.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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