Micron Technology (NYSE:MU), a leading memory chip maker, is set to announce its earnings for the last quarter tomorrow afternoon. Despite missing Wall Street’s revenue estimates four times over the past two years, analysts covering the company have generally maintained their forecasts in the last 30 days.
In the last quarter, Micron Technology reported revenues of $5.82 billion, beating analysts’ revenue expectations by 8.8%. The company also saw significant improvements in gross margin and earnings per share. However, this quarter marks a reversal from the 56.6% decrease reported in the same quarter last year, with analysts expecting revenue to increase by 77.9% year-on-year to $6.67 billion.
As Micron Technology prepares to release its earnings report, investors are eagerly awaiting insights into the semiconductor industry. While buying back shares can be a strategic move when there is excess cash and the price is right, it remains to be seen if Micron Technology will follow suit this time around.
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