Micron Q3 Earnings Preview: Stronger Than Expected Memory Recovery, Micron Remains A Buy


  • I am reiterating my Buy rating due to strong pricing dynamics and expected significant uplift in HBM revenues.
  • The memory market is highly cyclical, with recent capacity constraints and strong demand leading to price increases and strong sales growth for Micron.
  • Micron was late to the HBM market but is gaining share, and I believe the company is likely to beat on estimates in Q3 with compelling results and guidance.

Micron San Jose Office



I initiated coverage of Micron Technology, Inc. (NASDAQ:MU) following Q2 earnings, calling it a blowout report. Today, I’m following up and reiterating my Buy rating on strong pricing dynamics in the memory industry. The market heavily rewarded

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MU over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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